Börse Express – New York Stocks Outlook: Indices up moderately after Friday’s price jump

NEW YORK (dpa-AFX) – Thanks to further decline in bond yields, US exchanges are likely to broaden their recent significant gains on Monday. Three quarters of an hour before the start of trading, the broker IG rated the leading Dow Jones Industrial index 0.7 percent higher at 31,292 points and the Nasdaq 100 tech-heavy select index
0.3 percent more to 11,342 points.

On Friday, the main index and the heavily tech picker index closed with price premia of nearly two and a half percent after speculations emerged that the US Federal Reserve could reduce the pace of its interest rate hikes. Another major interest rate hike is still firmly forecast at the beginning of November in the fight against high inflation. However, the latest statements from US central bankers indicate that interest rate hikes will be less pronounced in the coming months.

As for the economy and business, the news situation at the start of the new week is clear. Shortly after the start of trading, corporate sentiment data in the US is on the agenda. In the euro zone and in the UK, the situation had surprisingly clouded in October, as the S&P Global purchasing manager indices showed.

The shares of the American electric car manufacturer Tesla it has already fallen 2.7% before the market after a Bloomberg news agency report said it reduced its prices in China by about 5%. This would partially reverse previous price increases, he said. Tesla is struggling with growing competition from domestic manufacturers like BYD in China.

Shares in New York-listed Chinese companies also came under pressure ahead of the market after Chinese head of state and party leader Xi Jinping consolidated his power at the party congress, held every five years, and raised followers around him

 ISIN  US2605661048  US6311011026  US78378X1072

AXC0175 2022-10-24 / 15: 00

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