New York Stocks: Technical weights drive US stock exchanges

NEW YORK (awp international) – Strong price gains by heavyweights in the US technology industry led to gains on the New York stock market on Tuesday. The Dow Jones Industrial, which consists mostly of conventional stocks, was left behind. It was only slightly up about two hours before trading closed. Recently, the most famous Wall Street index rose 0.16 percent to 42,022 points.

The market-wide S&P 500 rose 0.75 percent to 5,738 points. The tech-heavy Nasdaq 100 gained 1.20 percent to 20,037 points. It was mainly some of the so-called “Magnificent Seven” that gave impetus, especially Nvidia, Apple, Tesla, Microsoft and Amazon. The market continued to be rocky in the past trading days.

Despite picking up Friday’s gains after last month’s strong jobs report, uncertainty remains. The data had given new hope for a “soft landing” for the domestic economy, but at the same time, according to the “Fed Watch Tool” on the CME options exchange, an interest rate cut of 0.5 points per hundred now has been. total price. There is currently a high probability of a reduction of 0.25 points, and even maintaining the current key interest rate of 4.75 to 5.00 percent does not seem to be out of the question.

So we are waiting for the inflation data for September on Thursday and the producer prices on Friday, because they are likely to have an impact on the monetary policy of the US Reserve Force. In addition, the quarterly reporting season, which also accelerates on Friday, could show how well companies have done in the current economic environment.

The food company Pepsico presented its interim report this Tuesday, which led to a price increase of 1.4 percent for the shares in the S&P 100. Although the product recall had a negative impact, there were profits in the third season above estimates. Pepsico also kept its full-year profit forecast but lowered its revenue estimate.

Honeywell shares rose 1.5 percent in the Dow. The conglomerate wants to focus its portfolio more strongly and ship its business with advanced products before the beginning of 2026 at the latest.

Securities of Amazon’s Chinese rival, Alibaba, listed in New York, lost 7.1 percent. Baidu and JD.com also fell sharply. However, they had all risen sharply since measures were announced by China’s central bank and government to stimulate the weak domestic economy towards the end of September./ck/he