NEW YORK Current economic data underpinned the robust economy in the USA and should give further grist to the mills of those who fear interest rate hikes by the US Federal Reserve in September as well. The business climate in the economic region of Philadelphia brightened up surprisingly and significantly in August in a monthly comparison. It now signals growth again. In addition, the number of weekly initial jobless claims fell more significantly than expected.
Around three quarters of an hour before the start of trading, the broker IG estimated the Dow Jones Industrial 0.05 percent higher at 34,785 points after the US leading index had fallen by half a percent the day before.
The Nasdaq 100 should start on Thursday with plus 0.4 percent to 14,943 points. The technology-heavy selection index fell more significantly on Wednesday after the Fed interest minutes with minus 1.1 percent. The US Federal Reserve left the door open for further interest rate hikes, which has not particularly appealed to investors in tech companies. Such corporations are considered to be particularly sensitive to interest rates.
Among the individual values, the shares of Walmart increased by around one percent before the market. The retailer expects even better business for the full year after an unexpectedly strong second quarter. He therefore raised his sales and earnings targets again. Already after the first quarter, Walmart had set its goals higher. The already high expectations of Walmart have been exceeded, the company has delivered, praised RBC Research analyst Steven Shemesh.
The telecom equipment supplier Cisco, meanwhile, is preparing for slower growth in the 2023/24 financial year that has just begun, but has nonetheless reaffirmed its goals. JPMorgan analyst Samik Chatterjee praised the order intake, which had grown at an above-average rate and underpinned the group’s sales outlook. The stock gained 2.4 percent before the start of trading.
The fact that the British armaments group BAE Systems wants to take over the aerospace subsidiary Ball Aerospace from the Ball Corporation for 5.55 billion US dollars caused the parent company to rise by 3.9 percent.
2023-08-17 13:00:00
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