Home » News » US Stock Exchanges Show Signs of Stabilization Amid Positive Economic Data and Political Confidence

US Stock Exchanges Show Signs of Stabilization Amid Positive Economic Data and Political Confidence

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NEW YORK (dpa-AFX) – After the strong gains on the US stock exchanges in the middle of the week, there are signs of stabilization on Thursday. Economic data released before the start of trading was better than expected. At the same time, there is still confidence that the political dispute over the debt ceiling in the world’s largest economy will be settled in good time.

The broker IG appraised the leading US index Dow Jones Industrial
around three quarters of an hour before the start of trading, slightly down to 33,400 points. The Nasdaq 100 is also expected to be almost unchanged at 13,595 points, albeit with a positive sign.

The day before, high-ranking representatives of the Democrats and Republicans had spoken of positive signs about the meeting with US President Joe Biden in the White House. Otherwise, there could be a risk of default at the beginning of June.

Looking at the economic data, weekly initial jobless claims fell more sharply than expected. In addition, the business climate in the Philadelphia region did not deteriorate as much as forecast in May. After the start of trading, data from the real estate market will also be announced.

Among individual stocks, shares of Walmart rose
premarket by 1.2 percent. The largest retailer in the US is more confident about the year as a whole after a robust first quarter. In addition, Walmart earned less than in the first three months of the previous year, but expectations were still exceeded.

The Chinese Amazon -Competitor Alibaba
also released earnings, which initially led to premarket losses as fiscal fourth quarter sales missed analyst estimates. The Chinese online retail business performed surprisingly poorly. The focus then shifted to statements about the planned split of the technology giant. For example, the spin-off of the cloud division has now been approved. In addition, the IPO of the logistics division Cainiao is under review, while the IPO of the food chain Freshippo is in the planning stage. Before the start of the stock exchange in the USA, Alibaba was up 3.2 percent.

The shares of Micron also rose by almost 2 percent
. As the Bloomberg news agency reported from circles, Japan wants to give the US semiconductor company 1.5 billion US dollars as an incentive to support the production of next-generation memory chips in the country.

Significantly lower orders weighed on the shares of the network equipment manufacturer Cisco meanwhile premarket. They lost 4.3 percent./ck/jha/

 ISIN  US2605661048  US6311011026  US78378X1072

AXC0118 2023-05-18/15:04

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2023-05-18 13:04:00
#Equities #York #outlook #stock #exchanges #expected #stable #Walmart #numbers

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