NEW YORK (dpa-AFX) – Investors’ joy about the continued extremely loose monetary policy of the US Federal Reserve could fizzle out again on Thursday. Yields on the bond market continued to rise, making it harder for shareholders. Alternatives to investing in stocks could become more attractive if the trend continued. In addition, higher returns tend to weigh on shares in the technology industry, some of which are very highly valued. The currently published economic data were mixed and are therefore likely to have only limited influence.
After record highs on Wall Street in the middle of the week, broker IG estimated the Dow Jones Industrial around 45 minutes before the start to 33,007 points, which would be a minimal minus of 0.02 percent. For the technology-heavy Nasdaq 100, IG signaled another drop below the 13,000 mark. A discount of 1.6 percent to 12,990 meters is expected.
Meanwhile, the yield on ten-year US Treasuries climbed to around 1.74 percent and 30-year bonds rose to 2.49 percent.
A look at the economic data showed that the number of applications for unemployment benefits rose in the past week despite a strong recovery in the US economy – and more clearly than expected. At the same time, however, the business climate in the important US economic region of Philadelphia reached its highest level in almost 50 years in March.
Among the individual values in the Dow, the papers of Nike will come into focus after the close of trading, because the sporting goods manufacturer announces its figures for the third fiscal quarter. Credit Suisse analyst Michael Binetti expects the quarter that ended at the end of February to have been one of the most difficult in recent years for Nike on the US market. UBS expert Jay Sole still expects Nike to exceed market expectations. Before the IPO, the share initially fell 0.7 percent, which is close to its record high of just under 148 US dollars.
The Deutsche Post competitor and logistics group Fedex will also report on its third fiscal quarter. Goldman analyst Jordan Alliger is optimistic here and expects “another strong quarter”. Before the trading day, the share went up by 0.5 percent. It is also not too far from its high of just under $ 306.
The view is also moving back towards electric vehicle stocks. The papers of the developer of electric and hydrogen trucks Nikola, which had increased by 3.4 percent the previous day, are now expected to be 3.5 percent weaker. The shares of the electric car manufacturer Tesla, which had increased by 3.7 percent, fell by 2.5 percent before the market ./ck/mis
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