indexes in this article
NEW YORK (dpa-AFX) – The prospect of talks between the conflicting parties in the looming Ukraine war caused some relaxation on Monday before the US stock market started. The broker IG rated the Dow Jones Industrial (Dow Jones 30 Industrial) around three quarters of an hour before the start of trading 0.11 percent lower at 34,700 points. Previously, further significant losses had been indicated.
The technology-heavy selection index NASDAQ 100, which had previously also been under significant pressure, was valued by IG at minus 0.33 percent to 14,207 points.
A few hours ago, against the background of the Ukraine conflict, Russian Foreign Minister Sergei Lavrov told President Vladimir Putin that Russia should continue talks with the USA and its allies about demands for security guarantees in Europe. Putin agreed. Lavrov said Russia had drafted a 10-page response to the US and its allies on the proposals.
On Friday, Wall Street’s Dow index fell 1.4 percent, down 1 percent for the week, amid warnings from the US that Russia might invade Ukraine before the end of the Olympics . The Nasdaq selection index fell three percent on Friday, which also meant a weekly loss of three percent.
Investors had fled risky stocks to havens that were perceived as safe, such as government bonds or currencies such as the yen and the US dollar. The strong upward trend in prices in the USA is also causing additional nervousness. Ever since the highest inflation rate in over 40 years was published on Thursday, market participants have been speculating all the more feverishly about forthcoming interest rate hikes, as these could possibly take place more quickly and extensively than previously expected.
Among the stocks, JPMorgan (JPMorgan ChaseCo) may be a standout as Jefferies has removed its buy rating on the stock and lowered its price target to $155 from $180. The stock was down 0.5 percent pre-market. Goodyear (Goodyear TireRubber) upgraded to “Overweight” by JPMorgan, up 3.3 percent before the start of trading.
In addition, a takeover project could come into view. Australian gaming giant Crown Resorts (Crown) has agreed to a takeover bid by New York investment firm Blackstone. As Australian media reported on Monday, citing the listed casino group, the US company further increased its bid in January and offered 8.9 billion Australian dollars (5.6 billion euros) or around 13 Australian dollars per share. Blackstone has been trying to make an acquisition for a year. Crown had rejected previous, lower offers. Premarket, Blackstone shares fell 0.6 percent./ck/jha/
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