NEW YORK (dpa-AFX) – Investors on the US stock exchanges have become more cautious after the Dow Jones Industrial and S&P 500 records the day before. Nevertheless, they became after an initially directionless start of trading in the most famous Wall Street index again a little braver. So it remains to be seen whether it will be enough to jump over the 37,000 point mark this Wednesday.
In early trading, the Dow last rose 0.27 percent to 36,898.58 points. The S&P 500 
, which had also reached a record on Tuesday, fell by 0.07 percent to 4790.08 points. The tech-heavy Nasdaq 100 decreased by 0.63 percent to 16,176.60 points.
Given that interest rates will soon rise, there is currently a general trend on the stock exchanges that is increasingly reorienting investors away from growth stocks and towards value stocks. That was also a major reason for the strong start to the year for the standard values. The Dow had gained 1.3 percent within two trading days, while the high-growth tech stocks – as measured by the Nasdaq indices – are on balance in the red.
Market analyst Craig Erlam from broker Oanda currently sees numerous risks for the stock exchanges. So it is good news that the virus variant Omikron is probably less serious than the Delta variant, but you are back where you were before Omikron: “In an uncertain environment with high inflation and a restrictive monetary policy”.
In addition, the ISM sentiment data from the industry the day before, with a view to inflationary pressures, made it clear that the time had come for central banks to act. And after the very strong employment data from the private sector, which had surprised that day, the tension is now increasing with a view to the official labor market report on Friday. And the minutes of the US Federal Reserve (Fed) that are still due in the course of trading this Wednesday should attract a lot of attention.
With a view to individual values, the focus was primarily on analyst comments. Salesforce shares plummeted in the Dow, this time by 5.5 percent. Adobe lost 4.2 percent in the Nasdaq 100 at the same time after UBS canceled its buy recommendations for the two software stocks.
In contrast, the S&P 100 for the shares of Pfizer went up 3.4 percent. They benefited from a Buy recommendation from Bank of America. The day before it became known that the US government would double its order for the promising Covid-19 drug Paxlovid.
AT&T shares also rose by 3.4 percent in the S&P 100. In the past year, the telecommunications group won more new mobile contract customers than it has done in ten years. He also announced successes in new business with streaming offers: According to initial calculations, the annual target of up to 73 million worldwide users will likely have been exceeded in 2021.
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