The New York stock exchanges are headed for a conciliatory end to a mixed week. Market observers identified positive economic data, positive news for the banking sector and the rapid corona vaccination campaign in the United States as price support.
Last put the leading index Dow Jones Industrial
As the consumer sentiment surveyed by the University of Michigan demonstrated, the consumer confidence in the US brightened significantly in March and reached its highest level in a year. Both expectations and consumer assessments of the situation improved significantly. The university attributed the increases to progress in the corona vaccination campaign and government support payments.
At the same time, the slightly lower than expected increase in personal consumption expenditure (PCE) for February supported the Fed’s assessment that inflationary pressures in the economy have so far been limited. This means that the monetary authorities are not under pressure to have to raise interest rates anytime soon, which would reduce the attractiveness of the equities asset class compared to fixed-income securities.
On Thursday after the market closed, the Fed also announced that it would lift its corona-related restrictions on dividends and share buybacks by banks at the end of June. However, the initial euphoria subsided somewhat in the sector.
In addition, there were statements from US President Joe Biden, who had doubled the vaccination target for his campaign the day before. Instead of 100, 200 million doses are now to be injected in the first 100 days of his term of office. The fact that this is well received by market participants is primarily due to their hope of a quick return to a pandemic-free and recovering economy.
The shares of the oil company Chevron
The papers of the tobacco company Altria
ISIN US2605661048 US6311011026 US78378X1072
AXC0360 2021-03-26/19:15
Copyright dpa-AFX Wirtschaftsnachrichten GmbH. All rights reserved. Redistribution, republication or permanent storage without the express prior consent of dpa-AFX is not permitted.
– .