NEW YORK (dpa-AFX) – After two very weak stock market days and the Dow Jones Industrial slipping to a low since the beginning of October, Wall Street is likely to attempt a recovery on Thursday. One hour before the starting bell, the broker IG valued the Dow three-quarters percent higher at 34,280 points.
The day before, the first case of infection with the Omikron virus variant in the USA ended an attempt at recovery on the ailing US stock exchanges. In late trading, the prices had increased the losses. From the record high of the Dow in early November, it has now plummeted by seven percent.
“Investors find it difficult to assess the economic consequences of Omikron because the data situation is insufficient,” wrote chief strategist Mark Haefele of the UBS bank. Investors apparently expected further turbulence on the stock exchanges. JPMorgan analyst Marko Kolanovic argued that initial reports suggest that the Omicron variant may be less lethal than its predecessor. This would correspond to findings from the development of viruses in the past. This could mean an end to the pandemic, from which high-risk investments such as stocks should benefit.
Among the heavyweights, Apple is likely to attract interest. The company had informed suppliers about weakening demand for the iPhone13, reported the Bloomberg news agency the previous evening, citing people familiar with the matter. Since the supply of new iPhones is scarce because of the problems in the supply chain, consumers have apparently decided against buying the actually coveted device. Apple shares lost a good three percent before the IPO.
Boeing shares, however, gained 5.6 percent before the IPO. China could soon lift the almost three-year take-off and landing ban for the Boeing Max 737. This emerges from a document on the website of the Chinese authority responsible for civil aviation./bek/jha/
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