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NEW YORK (dpa-AFX) – The price rally on Wall Street in New York is still uncertain. Surprisingly strong selling in US retail trade on Wednesday dampened hopes that the US Federal Reserve may soon tread much more caution with interest rate hikes, according to market experts.
Der Dow Jones industrialist it ultimately held steady at minus 0.12 percent at 33,553.83 points. This means that what is probably the best-known Wall Street index remains in the range of the past three days. After a recovery rally of around 18.5 percent since the last low in mid-October, investors have now grown more cautious.
The S&P 500 index it lost 0.83% to 3958.79 points at midweek. The tech-heavy Nasdaq stock market fell a bit more sharply after a relatively clear rally the day before. The Nasdaq 100 selection index it lost 1.45% to 11,699.09 points.
Consumption, which is important to the US economy, was stronger than expected in October, growing 1.3% over September. Experts had expected an average increase of 1.0%. At the same time, US import commodity price increases weakened significantly in October.
There was also talk of politics, because it is now official that Donald Trump wants to return to the White House. The 76-year-old is running for the Republican nomination in the 2024 presidential election. Trump has made it clear to supporters that he wants to continue his previous policies if reelected.
Among the individual values, the Micron chip group in particular moved
and retailer Target are turning heads. Micron shocked investors by saying the market outlook for the fourth quarter had deteriorated. The share lost 6.7 percent on the Nasdaq.
Objective it also pointed to a bleaker outlook and therefore cut its sales and earnings targets in the important last quarter. The rate decreased by 13.1%. The shares of competitors such as Kohl’s have also been hit
and Best Buy . Kohl’s lost 7.1% and Best Buy 8.6%.
Walmart instead it continued to increase after the positive surprise of the previous day. The shopping giant had impressed with its figures, raised its annual sales target and announced a new share buyback program. Now there have been a number of positive comments from analysts. The stock, which jumped 6.5% the day before, expanded its gain by 0.7%. For the stock of Lowe’s it rose 3.0% after the home improvement and appliance retailer raised its profit target for the year.
A proposed acquisition has also attracted attention. Estee Lauder acquires fashion brand Tom Ford. The cosmetics group is therefore making the largest acquisition in its corporate history to date, as Tom Ford is valued at US$ 2.8 billion. Estee Lauder shares fell 1.8%.
Ahead of the upcoming quarterly figures, the Nasdaq 100 provided documents from Cisco by 1.1% and that of Nvidia
by 4.5%.
The euro it was trading at $1.0398 as of the close on Wall Street. The European Central Bank had set the key rate in Frankfurt at 1.0412 (Tuesday: 1.0404) dollars. The dollar therefore cost 0.9604 (0.9612) euros.
In the US bond market, the 10-year bond futures (T-Note Future) contract rose 0.58% to 113.22 points. In return, the yield on 10-year government bonds fell to 3.682 per cent/ck/he
— By Claudia Müller, dpa-AFX —
ISIN US2605661048 US6311011026 US78378X1072
AXC0378 2022-11-16/22:22
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