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“Market participants are again looking at the full horn of company reports and quarterly figures,” commented market expert Andreas Lipkow from Comdirect – in many cases with good news on Thursday. The fact that the US economy has recently lost significant momentum therefore did not have a braking effect. “In this situation, a cautious approach by the Fed seems advisable,” concluded Ralf Umlauf from Helaba with a view to the interest rate decision of the monetary authorities in the coming week.
Apple and Amazon received advance praise for their quarterly report, as showed increases of 2.5 and 1.6 percent respectively. The Apple price approached the seven-week-old record high. It is eagerly awaited to see whether the iPhone manufacturer will continue to get through the global chip bottlenecks well after a strong previous quarter. The Apple supply chain is traditionally well organized.
There were convincing reports from two Dow companies. For the pharmaceutical company Merck & Co The third quarter was better than expected, with shares advancing 6.1 percent at the top of the index. The same applied to the construction machinery company Caterpillar whose businesses were driven by the construction and raw materials boom. Here was an increase of 4.1 percent on the price board.
In the broader market, profits were topped by Ford with a price jump of 8.7 percent, which brought the shares to their highest level since 2014. The carmaker performed better than expected in the third quarter despite the global chip crisis. As a result, increased profit targets were seen in the market as a bigger positive surprise. UBS expert Patrick Hummel spoke of a “big beat” across the board.
There was with Ebay However, there was also a well-known negative outlier: The shares slipped 6.8 percent due to a disappointing quarterly report. Slower sales growth was forecast for the Christmas quarter. Stockbrokers saw this as a sign that reopened stores had affected the online marketplace.
Meanwhile, Facebook shares continued to recover after hitting their lowest level in five months early. When it became known that the company would be called Meta in the future, investors suddenly took the initiative. The price rose by 1.5 percent.
The Euro received tailwind from the fact that the European Central Bank (ECB) continues to view high inflation as a temporary phenomenon. Most recently, the price rose to $ 1.1681. The ECB had set the reference rate before the ECB interest rate decision significantly lower to 1.1593 (Wednesday: 1.1617) US dollars. The dollar cost 0.8626 (0.8608) euros.
US Treasury bond prices fell. Market observers spoke of a countermovement. The futures contract for ten-year Treasuries fell 0.36 percent to 130.70 points. The yield on ten-year paper rose to 1.58 percent./tih/he
By Timo Hausdorf, dpa-AFX
Source: dpa-AFX
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