NEW YORK (dpa-AFX) – After a long weekend, the US stock exchanges should start friendly on Tuesday and set new records. Optimism continues to drive the markets up. It is hoped that the economy will recover quickly with the advancing vaccination campaigns and falling numbers of new corona infections. Economic data, especially from the US, seem to increasingly support such a scenario. So did the Empire State Index for February, which was twice as high as expected. The index published by the US Federal Reserve is one of the most important leading indicators and measures business activity in the manufacturing sector in New York State.
The broker IG estimated the leading index Dow Jones Industrial around three quarters of an hour before the stock market launch with 0.5 percent plus at 31,625 points, which would mean a new high. Most recently, the best-known Wall Street index hit a record high last Thursday and then barely moved on Friday. The Nasdaq 100 is also expected to hit a record high. IG also rated the technology selection index 0.5 percent higher to 13,877 points. There was no trading on Monday due to the holiday “George Washington Day”.
Investors are again focusing on oil prices after the US WTI variety picked up on its most recent soaring. A barrel (159 liters) of West Texas Intermediate (WTI) rose to around $ 60. Prices are favored by a weak dollar, because this makes oil cheaper in regions outside the dollar area and demand can increase.
Company news from the front row is currently not in sight. The shares of the US auto supplier BorgWarner could come into focus, because the latter wants to buy the German battery manufacturer Akasol for almost 730 million euros. Before the trading session, the shares rose by 6.7 percent.
Ceva surprised with adjusted earnings figures for the final quarter of 2020 that were above expectations. The technology company’s paper went up by 4.5 percent. Palantir Technologies lost around 9 percent before the start of trading, because the software provider surprised negatively with an expansion of its losses in the past fourth quarter.
After the hours of the day, the car rental company Avis, the insurer AIG and the technology company Agilent are also on the agenda with numbers
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