indexes in this article
NEW YORK (dpa-AFX) – The volatile trading on the US stock market is likely to continue on Thursday with renewed losses. After stabilizing midweek, fears of inflation and recession have regained the upper hand. The stock exchanges pointed out that the day before, the chairman of the US Federal Reserve, Jerome Powell, and his counterparts from the Eurozone and Britain had warned at the European Central Bank forum that inflation would be prolonged. This once again raised fears that aggressive monetary policy interventions by the central banks in response to currency depreciation could slow down the economy and send it into recession.
The fact that consumers are becoming increasingly cautious is also shown by consumer spending in May, which rose less significantly than experts had forecast. Shortly after the start of trading, the mood of purchasing managers in the Chicago region should come into focus in June.
According to broker IG, the Dow Jones Industrial (Dow Jones 30 Industrial) will start trading 1.0 percent weaker at 30,706 points, which indicates a loss of 15.5 percent for the Wall Street index in the first half of the year . The half-year results for the NASDAQ 100 selection index, which is predominantly stocked with technology stocks, are no less sobering. In view of a loss of 1.2 percent to 11,518 points expected at the start of trading, his half-year minus then amounts to almost 30 percent.
Among the individual values, the bright spots on Thursday are likely to be rare. Biontech (BioNTech (ADRs)) was among them, up 1.5 percent premarket. Pfizer also fell below average by 0.3 percent in a market comparison. The US government ordered another corona vaccine from the two on a large scale for a planned booster campaign in the fall. According to Pfizer boss Albert Bourla, it is also about agents that are intended to protect against newer virus variants such as Omicron.
The pharmacy chain Walgreens Boots Alliance and the spirits manufacturer Constellation Brands (Constellation Brands A) also presented annual reports for the past quarter. On the earnings side, both exceeded the average analyst estimates. But the reaction of investors before the market was different: The Walgreens shares found in the Dow still lost 2.3 percent. Constellation Brands, on the other hand, were quite stable with a premarket minus of 0.5 percent. After the market close on Wall Street, the semiconductor manufacturer Micron Technology will also present its annual report./ck/jha/
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