NEW YORK (awp international) – The recovery of US stocks should continue at the beginning of the week, although initially less vigorously. Investors expect consumer prices forecast for Tuesday to indicate a further slowdown in inflation dynamics in the world’s largest economy.
More than half an hour before trading began, the broker IG estimated the Dow Jones Industrial would rise 0.2% to 32,223 points. The leading index closed last week with a gain of more than two and a half percent after three weeks of losses. On Monday, the heavy Nasdaq 100 was rated by IG by 0.4% higher at 12,638 points.
Among individual values, pharmaceutical company Bristol Myers-Squibb stood out in the pre-market with a 7% price increase. The shares benefited from FDA approval of an oral psoriasis drug.
Oil companies Chevron, Exxon Mobil and ConocoPhillips gained between 0.8 and 1.4%. They were helped by rising prices for the important raw material. Quotes were supported by the falling dollar exchange rate. This makes crude oil cheaper for buyers from other currency areas and thus increases their demand. The economic worries that had dominated recently faded into the background for a while.
Only with the closing bell on Wall Street Oracle presents quarterly data. Brent Thill of analyst Jefferies believes investors should focus primarily on growing the software maker with its own resources. Competitor SAP ended last financial year with its strongest currency-adjusted growth in nearly a decade. Although the results have been below sales, they are likely to recover in the current year. Even before the start of trading, the shares rose by 0.8%.
On the other hand, Twitter fell 0.9% ahead of the market. The online short message service pointed out that behavior towards a whistleblower does not contradict agreements relating to Elon Musk’s previous acquisition plans. Billionaire boss of electric car maker Tesla had withdrawn his $ 44 billion purchase offer and cited the latest news as another reason to be right.
–
