Investors expect the Fed to raise rates soon.
(Photo: Reuters)
Frankfurt Wall Street is stabilizing after the recent price slide. The leading indices Dow Jones, Nasdaq and S&P 500 gained up to one percent at the opening on Thursday after losing more than one percent on Wednesday.
The price slide in response to the appearance of the newly discovered Omikron variant in the USA was exaggerated, said analyst David Madden of the brokerage firm Equiti Capital. “People will find that it is not a big problem for the US economy to recover.”
However, the nervousness will accompany the stock exchanges for some time until scientists have found out more about the danger of the pathogen, said Sam Stovall, chief investment strategist at the research company CFRA.
Boeing was one of the favorites on the US stock market with a price increase of 4.4 percent. The Chinese flight control issued directives to airlines with necessary changes to 737 Max planes. This is a prerequisite for the aircraft to be released for operation.
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After several crashes, numerous states withdrew their flight permits about two and a half years ago. China is a very important market for the Airbus rival, wrote analyst Sheila Kahyaoglu from the investment bank Jefferies. Around 20 percent of all orders for 737 MAX come from this country.
The world’s largest electric car manufacturer Tesla is hunting young customers. In the USA, a “Cyberquad” for children has been brought onto the market. The vehicle costs $ 1,900. The four-wheeled car can travel around 16 kilometers per hour and the lithium-ion battery is enough for around 24 kilometers.
The vehicle is suitable for children aged eight and over. Tesla boss Elon Musk – himself a multiple father – sells not only electric cars, but also solar panels, tequila and the humanoid robot Tesla Bot. The share rose by 0.8 percent.
Look at individual values
Snowflake: The cloud data company’s shares rose more than eleven percent. Snowflake reported third-quarter revenue of $ 334 million, exceeding analysts’ expectations of $ 306 million.
Apple: The company had told some suppliers that demand for the iPhone 13 models could slow down. This was reported by the business news service Bloomberg. Apple shares fell 2.7 percent.
Lands’ End: The company reported lower-than-expected sales for the third quarter. The clothing retailer earned 22 cents per share, which was in line with forecasts. Land’s End also released a fourth quarter earnings and sales forecast that was below expectations. The shares slipped more than eleven percent.
Dollar General: The shares fell 0.8 percent. The company had announced plans to open 1,000 pop-shelf stores by the end of fiscal 2025. The vision for Popshelf, which targets wealthier suburban customers, was announced a year ago. There are currently 30 pop-shelf stores in six states.
More: Twelve stocks that investors can use to invest in the future.