NEW YORK (dpa-AFX) – US stocks continued their recovery on Tuesday thanks to further good company data. Economic concerns took a back seat after mixed economic data. After an initial price increase of more than two percent, the leading Dow Jones Industrial Index has established itself eventually a 1.12 percent gain to 30,523.80 points. The S&P 500 at the market level eventually rose 1.14% to 3719.98 points and the technologically heavy selection index Nasdaq 100
however it claimed a 0.77 percent price increase to 11,147.74 points.
Market analyst Craig Erlam of broker Oanda, meanwhile, is still questioning the sustainability of current price gains. “The sense of a bear market rally is still strong,” the expert wrote. He is not convinced that there is much substance behind it, “because the economic environment seems insidious and we do not even know if we have already reached the peak of inflation and the expectations on priced interest rates”.
The industry increased its production significantly in September and surprisingly significantly from the previous month. Conversely, sentiment on the housing market deteriorated more than expected in October, as evidenced by the decline in the NAHB housing market index. It is now the tenth consecutive decline.
Data from investment bank Goldman Sachs, in particular, was seen as a positive business report that supports the good mood of the market
called. Net profits of the industry giant plummeted, but not as much as experts expected. According to RBC analyst Gerard Cassidy, earnings per share were even well above forecast. The Wall Street icon’s newspapers were led by 2.3 percent. A series of results that were mostly well received by the banking sector continued.
However, the stock of the Salesforce software company became Dow’s biggest winner , which increased by 4.3 percent. They benefited from the fact that the founder of the activist investor Starboard, Jeff Smith, spoke of a significant stake in an interview with US economic broadcaster “CNBC”. The investor therefore sees a lot of potential in the newspapers, which are the third weakest value of the Dow this year at almost 40 percent less.
Meanwhile, the cards of the biotech company Akouos have fired
88 percent due to the pharmaceutical company Eli Lilly
reaches him. Investors who only bought the stock at an intermediate low in early August can expect a fivefold rise. shareholders Eli Lilly
reacted relaxed, the stocks rose 0.7 percent.
At Johnson & Johnson However, the reaction to the data presented was negative: at a discount of nearly 0.4 percent, stocks were one of the few losers in the main index. The consumer goods and pharmaceuticals group slowed currency effects on sales: adjusted net profit decreased.
The euro he continued to hold his position well above $ 0.98 and cost $ 0.9858 in New York trading. The European Central Bank had set the reference rate at 0.9835 (Monday: 0.9739) dollars and the dollar therefore cost 1.0168 (1.0268) euros.
US government bonds slightly reduced their initial price gains: the 10-year Treasury futures contract (T-Note Future) recently gained 0.20 percent to 110.92 points. On the other hand, the yield on ten-year government bonds fell to 4.00 percent / gl / ha
— By Gerold Löhle, dpa-AFX —
ISIN US2605661048 US6311011026 US78378X1072
AXC0298 2022-10-18 / 22: 28
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