Investors on Wall Street are starting the new week without too much activity. The most important indices are hardly moving, only the Dow is slightly up. Things are going well for Apple after analysts predicted solid growth for the company.
Investors on Wall Street have slowed down ahead of a much-anticipated performance by US Federal Reserve Chairman Jerome Powell. The Dow Jones index of standard values ??closed 0.1 percent higher on Monday at 33,431 points. The technology-heavy Nasdaq, on the other hand, fell 0.1 percent to 11,675 points. The broad S
By the end of the week, investors had shaken off their fears of rising interest rates and had started buying stocks again. Market traders are now eagerly awaiting the Fed head’s statements to the US Congress on Tuesday and Wednesday so that they can draw further conclusions for future interest rate policy. Economist Peter Cardillo from the financial services provider Spartan Capital Securities did not expect any surprises: “Basically, the Fed has set the course for further interest rate hikes, maybe even beyond May, and the market is very well aware of this.” Traders are expecting at least three more 25 basis point rate hikes this year and expect US interest rates to peak in September at 5.44 percent. zero
In terms of individual values, Apple took the spotlight. The shares rose as much as 3.5 percent to $156.30 after analysts at Goldman Sachs included the iPhone maker’s rating of “buy” and set a price target of $199. The Apple bills went out of business with a plus of almost two percent. Apple’s success in device design and brand loyalty has resulted in a growing consumer base. Growth in users, services and new product innovations should more than offset cyclical headwinds in product sales, analysts said.
Investors also took hold of Microsoft. Snapchat operator Snap’s titles jumped more than 14 percent at the top. In the end there was still a plus of 9.4 percent. The shares benefited from a possible US bill that could ban foreign technologies such as the Chinese video platform TikTok. Two US senators want to introduce a corresponding bill this week, Senator Mark Warner, chairman of the US Senate Intelligence Committee, said on Sunday.
US-listed shares of Chinese online retailer Pinduoduo fell about 2 percent after China issued a surprisingly low target for economic growth of about 5 percent. Rival Alibaba closed little changed. China’s outgoing Prime Minister Li Keqiang announced a growth target of around five percent for 2023 for the world’s second largest economy on Sunday, thus setting the bar lower than in the previous year.
