The US stock exchanges received fresh impetus on Tuesday. The Dow Jones Industrial passed the 34,000 point mark for the first time since mid-August.
The US stock exchanges recovered somewhat on Tuesday. The Dow Jones Industrial cleared the hurdle of 34,000 points for the first time since mid-August and also closed above it. Investors appear to have resigned themselves to the fact that the US Federal Reserve will continue to raise interest rates. They are now betting that the pace and altitude will be more moderate in the future. “The slowdown is what matters,” said one market analyst. In addition, latecomers to the reporting season delivered mostly encouraging business figures and outlooks.
The best-known Wall Street index, the Dow, ended the day up 1.18 percent at 34,098.10 points. The S
The market expects the Fed to ease its fast pace of tightening somewhat at the next interest rate meeting in mid-December. The regional Fed Chair of San Francisco, Mary Daly, recently commented accordingly. Later, Loretta Mester, the Cleveland Federal Reserve Chair, also commented. She said she was open to moderating rate hikes. The minutes of the last Fed meeting are now being eagerly awaited. It will be released on Wednesday.
On the corporate side, electronics retailer Best Buy and fashion retailer Abercrombie impressed
On the Nasdaq, the chip group Analog Devices pleased investors because it delivered an outlook for the current quarter, which was also rated as unexpectedly optimistic. The share certificates rose by almost 6 percent.
Shares of Zoom Video, on the other hand, fell by around 4 percent as one of the bottom performers in the Nasdaq 100. The provider of video conferences is finding it increasingly difficult after the boom at the beginning of the corona pandemic. In the past quarter, it recorded the weakest growth since the company was founded in 2011. Accordingly, management has now cut its sales forecast for the full year. Medtronic penalized in the S
The euro surged above $1.03 in US trade and was trading at $1.0305 at the close on Wall Street. The European Central Bank had previously set the reference rate at 1.0274 (Monday: 1.0246) dollars in Frankfurt. The dollar thus cost 0.9733 (0.9760) euros. On the US bond market, the futures contract for ten-year government bonds (T-Note Future) rose by 0.21 percent to 112.53 points. The yield on ten-year government bonds fell by 3.76 percent.
