Dow Jones closes in the red
Economic data give investors little hope
01/18/2023, 10:18 p.m
US industry produces less. Stockbrokers are concerned with the question of whether they should be happy about this, since the central bank could therefore relax its interest rate policy. However, fears of a recession linger over Wall Street. An RSV vaccine drives Moderna’s share price gains.
Wall Street investors once again ducked for cover after initial price gains. the Dow Jones Index the standard values were listed 1.81 percent lower at 33,296.63 points. The broader one S&P 500 lost 1.24 percent to 3928.8 points. The index of the technology exchange Nasdaq crumbled by 1.24 percent to 10,957.01 jobs.
Investors tried to interpret the latest US economic data. The decline in US industrial production fueled hopes that the US Federal Reserve would take its foot off the gas when it next decided on interest rates, as well as renewed fears of a recession. The retailers on the other side of the Atlantic also had to cope with greater sales losses than expected before the turn of the year.
The weakening December numbers are due, among other things, to the falling petrol prices, said Helaba economist Ulrich Wortberg. But even without this component, they didn’t turn out particularly well. In addition, the accounting season that started last Friday kept investors on their toes.
“So far, 33 of the S&P 500 companies have presented their figures. Two-thirds of them have exceeded earnings forecasts. However, high-profile disappointments such as that of Goldman Sachs make it difficult for the index to overcome the crucial 4000 point mark,” said analyst Konstantin Oldenburger from broker CMC Markets.
In the case of the individual values, positive study results drove the shares of the biotechnology company Moderna by 3.3 percent. Moderna’s vaccine against the respiratory pathogen RSV – a leading cause of pneumonia in young children and the elderly – showed an efficacy of 83.7 percent in adults aged 60 and over in the phase 3 study, the US biotech company said. To date, there is no approved RSV vaccine for adults.
A media report on the return of former US President Donald Trump on Facebook and Twitter Digital World Acquisition to. Shares in the SPAC company – which Trump plans to use as a takeover vehicle for Trump Social’s IPO – fall 7.49 percent to $16.06. Trump is said to have asked Facebook parent company Meta to unblock his social media account, according to NBC News. In addition, campaign advisors are said to have worked out ideas for Trump’s first tweet after Elon Musk took over the short message service.