NEW YORK (awp international) – The recovery on the US stock exchanges is likely to continue on Thursday. The fact that there were no indications of even more aggressive steps to combat high inflation in the USA in the minutes of the US Federal Reserve published the day before is still having a positive effect.
About an hour before the start of trading, the broker IG rated the Dow Jones Industrial 0.6 percent higher at 32,296 points. The day before, the most important Wall Street index had already recovered by 0.6 percent. The tech-heavy Nasdaq 100, which was up 1.5 percent the previous day, is expected by IG to be a modest 0.12 percent higher to 11,958 points.
Federal Reserve minutes are temporarily calming nerves as they signaled further rate hikes of 0.50 percentage point in June and July before pausing in September, commented Jeffrey Halley, market analyst at brokerage Oanda Asia Pacific. The dreaded rate hike of 0.75 points “was no longer on the agenda”.
Among the individual values, the focus is primarily on shares from the badly battered technology sector. Apple lost 1.3 percent before the start of trading, because insiders say the iPhone manufacturer has doubts about the increase in sales of its smartphone in the current year.
Nvidia disappointed its investors after the figures for the first business quarter presented the evening before with statements on the outlook. The papers lost 4.5 percent before the market. The figures from the developer of graphics processors and chipsets for personal computers, servers and game consoles were strong in the first quarter, but the outlook for the gaming division was weak, wrote JPMorgan analyst Harlan Sur.
The papers of the Chinese Internet retailer Alibaba, on the other hand, increased by 5 percent before the market according to the figures presented for the fourth business quarter. Medtronic, on the other hand, lost almost 5 percent because the medical technology company missed market expectations in terms of earnings.
Macy’s, on the other hand, rose by almost 13 percent, because the US department store operator raised its target range for adjusted profit in the course of the figures presented for its first fiscal quarter.
There was also news about Broadcom and its interest in VMWare. The chip group agreed with the software provider and wants to acquire it for around 61 billion US dollars. In view of the price movements of the past few days, the pre-market reaction was no longer too great: Broadcom fell by 0.5 percent and VMWare gained 1.3 percent./ck/jha/
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