NEW YORK (awp international) – The US stock market extended its recovery gains from the previous day on Wednesday. The stock market sentiment is currently a little better again, which market experts also attribute to the fact that the sell-off of US government bonds has weakened again. In recent weeks, bonds have come under considerable pressure against the background of an increasing tightening of monetary policy, while their yields have risen sharply.
The leading Dow index rose by 0.80 percent to 35,745.42 points about two hours before the close of trading. The S&P 500 index covering the broad market rose by 1.29 percent to 4579.67 points and the Nasdaq 100 technology index rose by 1.62 percent to 14 986.38 points.
The expiry of the bond purchases by the Fed and, above all, the turnaround in interest rates remain a major topic on the stock markets, despite the more relaxed mood again. Therefore, nervousness is likely to increase again a little this Thursday at the latest, because then the US inflation data for January are due.
The stock of the Facebook parent Meta led the technology exchange on Wednesday with the up. It was up 4.6 per cent after losing about a third in just four trading days. The company’s market value is now only around 600 billion US dollars. Last week, Meta shocked investors with declining user numbers.
The paper from ride-hailing company Lyft, which released its quarterly report the previous evening, rose 6.0 percent after a weak start in the wake of the general recovery. However, the fourth quarter was not convincing, because the Omikron wave dampened the passenger numbers. After the stock market closes, Lyft competitor Uber, whose shares rose by 4.2 percent, will also provide insights into its books.
The demand for solar shares was primarily due to Enphase Energy’s better-than-expected quarterly report. The company is also planning its first factory in Europe to better meet local demand. The shares rose by 10.6 percent. Other solar stocks such as First Solar, Sunnova Energy and Sunpower rose 4.5 to 5.5 percent in the wake of the Enphase price gains./ck/he
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