NEW YORK (dpa-AFX) – After strong price gains the day before, the recovery rally on the US stock exchanges should already be over on Friday. The persistently high inflation in the USA could initially deter investors from further share purchases. An hour before the starting bell, broker IG valued the Dow around 0.4 percent lower. In the trading month of April, the leading index nevertheless recorded a plus of a good one percent.
An indicator of inflation, which the US Federal Reserve pays close attention to, rose somewhat more sharply in March over the year than analysts had expected on average in their forecasts. Labor costs also rose faster than expected in the first quarter.
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The Nasdaq 100 is likely to drop 0.3 percent at the start. A moderate minus is indicated here for April.
Even before the weekend, some heavyweights let themselves be looked at in the books, the pre-market price reactions were mixed. Intel shares rose 6.2 percent. The manufacturer of semiconductors and data centers has admittedly posted a slump in sales and billions in losses; Bernstein analyst Stacy Rasgon nevertheless spoke of a solid quarter given very low expectations.
Amazon shares, on the other hand, lost 2.4 percent after the quarterly report. Analyst Lloyd Walmsley from UBS pointed out that the online retailer’s growth in the Web Services (AWS) segment has recently cooled off somewhat.
Before the market opened, the stock exchange severely punished the makers of the photo app Snapchat for the first drop in sales. The share lost almost a fifth of its value in one fell swoop. Previously, the service was known for explosive growth.
The two oil and gas giants Exxon Mobil and Chevron earned more than analysts had expected on average in the first quarter. But while Exxon was able to gain one percent pre-market, Chevron gave way slightly.
Shares in Amgen, which is also included in the Dow, fell by 1.6 percent. Analyst Michael Yee of Bank Jefferies noted the first quarter could herald future lower prices for the biotech’s active ingredients.
T-Mobile US lost 1.8 percent. At the beginning of the year, the US subsidiary of Deutsche Telekom did not grow as strongly as expected in service revenue and even posted a total decline in revenue./bek/jha/
2023-04-28 12:56:10
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