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Wall Street threatens losses: Dow Jones and Nasdaq in the red
New York stocks outlook: Dow Jones and Nasdaq expect a weaker start after US inflation and business figures - experts are monitoring developments with a view to the US economy and reporting season.
Wall Street threatens losses: Dow Jones and Nasdaq in the red
At the end of a busy week, losses are looming on Wall Street. The broker IG estimated the Dow Jones Industrial at 38,390 points, which corresponds to a loss of 0.4 percent. The Nasdaq 100 was also expected to be 0.4 percent lower at 18,231 points.
Surprisingly high US inflation on Wednesday initially unsettled investors as it further pushed back expectations of an interest rate cut by the US Federal Reserve. On Thursday, however, investors bought into tech stocks again, and the blue chip indices were able to recover towards the end of trading after a weak start.
Experts emphasize that monetary policy is taking a back seat for the time being as more attention is paid to positive US economic data. These show that the US economy is coping well with the high key interest rate so far. Investors are also counting on a promising reporting season for the first quarter.
The reporting season has begun with the first results from banks such as JPMorgan. Despite lower provisions for loan losses in the first quarter, the major US bank made a surprisingly large profit. However, the net interest result fell short of expectations. The share price fell by 2.5 percent premarket. Further financial figures from Wells Fargo and Citigroup are still pending.
The shares of the chip companies Intel and AMD are also likely to start with price losses. The background is a report by the Wall Street Journal, according to which Chinese telecommunications companies should no longer use computer chips from abroad in the medium term. AMD and Intel each lost almost 2 percent in premarket trading.
In addition, a downgrade of the seed and agricultural chemical company Corteva from “Overweight” to “Neutral” by JPMorgan weighed on the shares. Agrochemical destocking continued in South America and Europe and prices continued to fall. Corteva shares fell 1.6 percent premarket.