© Reuters.
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NEW YORK (dpa-AFX) – The Dow Jones Industrial turned into the red on Wednesday after the publication of the US Federal Reserve protocols. An hour and a half earlier, the most famous stock index in the United States had managed to climb another record high. However, the leap over the 37,000 point mark has not yet been achieved.
Most recently it lost 0.25 percent to 36,708.35 points. The one who had reached a record on Tuesday fell by 0.82 percent to 4,754.08 points. The technology-heavy Nasdaq 100 fell 1.77 percent to 15,992.20 points. At the same time, yields rose on the US bond market and the US dollar also rose.
As stated by the US Federal Reserve (Fed), a strengthening of the economy and higher inflation could lead to earlier and faster rate hikes than previously expected. At the same time, some decision-makers also advocated starting the meltdown of total assets soon afterwards.
The expectation of rising interest rates is now generally reflected on the stock exchanges – in such a way that investors are increasingly reorienting away from growth stocks and towards value stocks. That was a major reason for the strong start to the year for the standard values. The Dow had gained 1.3 percent within two trading days, while the high-growth tech stocks – as measured by the Nasdaq indices – are on balance in the red.
With a view to individual values, the focus was primarily on analyst comments. The shares of Salesforce (NYSE 🙂 in the Dow plummeted further, this time by 6.5 percent. Adobe (NASDAQ 🙂 lost 5.4 percent at the same time after UBS (SIX 🙂 canceled their buy recommendations for the two software stocks.
In contrast, it went in the S&P 100 for the shares of Pfizer (NYSE 🙂 up 2.7 percent. They benefited from a Buy recommendation from Bank of America. The day before it became known that the US government would double its order for the promising Covid-19 drug Paxlovid.
The shares of AT&T (NYSE 🙂 also rose by 4.1 percent in the S&P 100. In the past year, the telecommunications group won more new mobile contract customers than it has done in ten years. He also announced successes in new business with streaming offers: According to initial calculations, the annual target of up to 73 million worldwide users will probably be exceeded in 2021./ck/he
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