NEW YORK (dpa-AFX) – At the end of the difficult first quarter, Wall Street started off quietly on Thursday. Around an hour before the starting bell, broker IG valued the Dow Jones Industrial a few points lower at 35,205 points. IG sees the Nasdaq 100 up 0.3 percent at 15,118 points.
Make more of your money!
With Germany’s major stock exchange newsletter boerse.de-Aktien-Ausblick. Request here…
After the first three months of the new year, the Dow is currently around 3 percent in the red. After initially climbing to a record 36,952 points, it then fell to 32,272 points in the wake of the Russian invasion of Ukraine. In the most recent recovery, however, the Dow made up for two-thirds of the setback.
The Nasdaq 100 technology selection index is significantly worse in the race with a minus of almost 8 percent in 2022. The turnaround in interest rates initiated by the US Federal Reserve prompted many investors to part with their tech darlings. But since its March low, the Nasdaq 100 has also made more than half of the way to the record of 16,764 points from November 2021.
So the shares are holding up pretty well. If the investment strategist Peter Oppenheimer from Goldman Sachs is right, there is hardly any upside potential, at least on Wall Street. His target for the market-wide S&P 500 by the end of the year is 4700 points, just 100 points above the current level. He believes stocks in Europe and especially Asia are a little more capable. However, the recent recovery is not irrational, emphasizes Oppenheimer, among other things, with a view to further negative real interest rates and a share valuation that has lagged behind the development of corporate profits.
Among the individual values, investors should keep an eye on AMD in particular with premarket losses on Thursday. British investment bank Barclays withdrew its recommendation for the processor manufacturer’s shares. Although he will probably take further market share from his competitor Intel in the coming years, growth is likely to suffer from the situation in many end markets, wrote analyst Blayne Curtis./ag/mis