Indices in this article
NEW YORK (dpa-AFX) – On the way towards 37,000 points, the Dow Jones Industrial (Dow Jones 30 Industrial) will probably start at a slower pace on Wednesday. The broker IG estimated the leading index of Wall Street primarily at the previous day’s level at 36,800 points. So he might miss a new record of 36,935 points at first. The technology stocks concentrated on the Nasdaq stock exchange, on the other hand, are likely to have a weaker start. The indication from IG signals a discount of 0.4 percent for the NASDAQ 100.
A rotation of investors in growth and value stocks is currently being observed on the stock markets, probably also in anticipation of rising interest rates soon. Accordingly, the Dow Jones Industrial got off to a good start to the year, probably the best-known US benchmark index gained 1.3 percent within two trading days, while the high-growth tech stocks measured on the Nasdaq 100 are on balance in the red.
Finally, there is hope that infections with the Coronavirus variant Omikron will be mild and that economic growth will not be weighed down. Strong figures from the job service provider ADP underpinned this view in the middle of the week: In December, 807,000 jobs were created in the private sector, almost twice as many as expected by experts. At the end of the week, the official labor market report is expected from the USA.
“Everything stands and falls with the development of Covid-19,” said the private bank Metzler on Wednesday. “If the virus becomes endemic in a positive sense, economic hopes will rise accompanied by a continuation of the bull market on the stock market,” said the experts. In view of the very high number of new US infections, investors should not look too carelessly at Wall Street.
With a view to individual values, the focus was primarily on analyst comments. Pfizer shares, for example, rose two percent after Bank of America gave them a buy recommendation. The previous evening it became known that the US government would double its order for the promising Covid-19 drug Paxlovid. Conversely, the experts at the US bank gave up their buy recommendation for Amgen. The papers of the pharmaceutical company fell primarily by 1.4 percent.
In the technology sector, the downward trend at Salesforce and Adobe continues, the papers of the two software companies lost up to 3.3 percent. The Swiss major bank UBS canceled its previous buy recommendations on Wednesday. At $ 240, Dow-listed Salesforce shares are heading for their lowest level since early August. Adobe would even mark a low since June below $ 538.
Even further downhill, Tesla shares, which slipped the day before, fell by 0.7 percent. The activist investor and short seller Fraser Perring tweeted in the morning that he was again betting on price losses. He raised the question of whether the big car manufacturers Toyota (Toyota Motor) and Volkswagen (Volkswagen (VW) vz) were undervalued on the stock exchange or whether Tesla was simply overvalued.
Otherwise, General Motors was downhill by almost one percent below the standard values. Sales figures for 2021 showed that the largest US manufacturer, General Motors (GM), suffered a particularly severe slump – and that its position as the top-selling provider in its home market deteriorated for the first time in 90 years.
In the case of the papers of the telecommunications giant AT&T, however, it was primarily about one percent high. Last year the group had more new mobile contract customers than in ten years. But there is also success in new business with streaming offers: According to initial calculations, the company’s own annual target of up to 73 million worldwide users was likely to be exceeded in 2021./tih/jha/
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