NEW YORK (dpa-AFX) – The US stock exchanges are likely to continue to be volatile at the start of trading on Monday. After a surprising rally on Friday, which gave new upward impetus to technology stocks, which had recently been badly hit, Wall Street is now expected to be somewhat weaker, while the Nasdaq stock exchanges could remain stable or even increase slightly.
The broker IG appraised the leading index Dow Jones Industrial about an hour before the start 0.6 percent lower to 34,530 points. The tech-heavy Nasdaq 100 is expected unchanged to slightly higher.
Although the Nasdaq achieved a slight weekly plus last week, the situation on the US technology exchange remains tense, said capital market strategist Jürgen Molnar from RoboMarkets. From a technical point of view, there is still no bottoming out. “The focus of investors in the coming weeks should continue to be the development of inflation,” he expects. The pace of the change in monetary policy by the US Federal Reserve Bank is dependent on it.
Among the individual values, with Alphabet and AMD on Tuesday, the Facebook parent Meta on Wednesday or Amazon on Thursday – all after the close of trading – the focus is on other globally highly regarded corporations with their quarterly reports and outlook. On the other hand, the week starts off quite quietly for the company.
The music plays more in secondary values. Citrix lost slightly before the market. Elliott Investment Management and Vista Equity Partners want to take over the software manufacturer for 16.5 billion US dollars.
Blackberry struck a patent sale agreement with Catapult IP Innovations, which hurt shares by a 5 percent discount premarket. The security software maker said it will sell essentially all of its non-core patents to Catapult for $600 million. Catapult is a special purpose vehicle formed to acquire the BlackBerry patents. The company also said it would license back the patents sold, which primarily relate to mobile devices, messaging and wireless networking.
Meanwhile, Beyond Meat rose by almost 5 percent and benefited from a positive analyst comment from the British bank Barclays. Analyst Benjamin Theurer upgraded Beyond Meat from “Underweight” to “Overweight” and raised the price target from $70 to $80. The Barclays expert sees significant growth potential in new business channels. This applies in the USA beyond consumer retail and also in the international segment. According to Theurer, the competition in the vegan meat substitute industry is likely to increase, but he now sees more positives than negatives with Beyond Meat./ck/jha/
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