On Wednesday, technology stocks in particular reacted with significant gains to the interest rate decision and the accompanying statements by the US Federal Reserve (Fed). “The Fed is stepping up its pace and will probably raise the key interest rate three times in the coming year,” wrote chief economist Cyrus de la Rubia of the Hamburg Commercial Bank. In the market it was said that the monetary authorities were only fulfilling expectations and providing more clarity. Stockbrokers were convinced that central bankers could take such steps without interfering with economic growth.
Central banks around the world are currently weighing up how to counter the high inflation in a balanced way. On this Thursday, the interest rate decisions in Great Britain and the euro zone followed, but they were not as market-moving as the Fed on the previous evening. Fresh economic data from the USA meanwhile painted a mixed picture: in the construction sector they showed a surprisingly high level of activity, although the Philadelphia Fed’s leading indicator had fallen surprisingly sharply.
Slowly but surely, the stock markets are ending a strong year. So far, the Dow has gained around 18 percent in 2021 and the Nasdaq 100 even a good 25 percent – despite the pandemic concerns that have flared up again. “The fourth corona wave has put investor confidence to the test again, but we are still looking confidently into the new equity investment year 2022,” wrote DZ Bank. Cyclists should particularly benefit from this development, but so should the technology companies that are particularly important in the USA.
Among the biggest winners in the S&P 500, the papers of the telecom group AT&T rose by a good six percent after an analyst comment. The recent price weakness has created an interesting opportunity for investors measured in terms of opportunities and risks, wrote the expert Simon Flannery of Bank Morgan Stanley. The expert expects many price drivers in 2022, including a merger of the subsidiary WarnerMedia with Discovery.
At the top of the index, Accenture’s shares soared by around nine percent after reaching a record high in the course of trading. The consulting firm had increased its sales outlook.
In contrast, the sales target of the software company Adobe Systems fell short of the analysts’ expectations. The expert Kirk Materne from Evercore ISI referred, among other things, to unfavorable currency effects. The shares plummeted by almost nine percent and thus clearly brought up the rear in the S&P 500./la/zb
(AWP)
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