gained 0.59 percent to 4768.37 points. The Nasdaq 100 rose by 0.49 percent to 16,811.86 points.
Recently, several speakers from the Fed tried to push back the high interest rate cut expectations for next year. But so far this has hardly been successful. The markets are still expecting interest rate reductions of almost 1.5 percentage points by the end of 2024. The Fed’s latest projections suggest just 0.75 points.
On Tuesday, investors received statements from the regional Fed chief from Richmond, Thomas Barkin. He had indicated that the central bank would cut key interest rates if the recent progress in inflation continued.
“The rally on the US stock markets continues,” summarized analyst Jim Reid from Deutsche Bank. The experts at the British bank HSBC recently suggested that the Dow would reach 40,000 points. In the remaining trading days of 2023, the main question will likely be whether investors will “cash in” and take price profits before the end of the year.
Among the best performers in the Dow, Boeing shares rose more than one percent. For the first time in years, Lufthansa ordered short- and medium-haul jets from the manufacturer. Lufthansa fleet board member Detlef Kayser justified the about-face with greater flexibility in aircraft orders.
Curevac’s shares listed in New York fell to a record low and ultimately fell by almost 30 percent. The Federal Patent Court in Munich had declared a basic corona vaccine patent from the Tübingen pharmaceutical company invalid. With this ruling, the court upheld a lawsuit brought by Mainz competitor Biontech. Curevac wants to appeal the verdict.
Biontech’s shares, which are also listed in New York, rose by three percent. The shares of its partner Pfizer gained four percent. In the wake of these two values, the shares of the competitor Moderna climbed a good four percent.
Lyft shares lost 3.6 percent. John Patrick Zimmer, a co-founder and top manager of the ride-hailing company, recently sold Lyft shares.
The euro was last traded at $1.0977. The European Central Bank set the reference rate at 1.0962 (Monday: 1.0918) dollars. The dollar therefore cost 0.9122 (0.9159) euros.
On the US bond market, the futures contract for ten-year government bonds (T-Note Future) rose by 0.10 percent to 112.36 points. In return, the yield fell to 3.93 percent./la/he
— By Lutz Alexander, dpa-AFX —
Source: dpa-AFX
2023-12-19 21:31:00
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