Wall Street cannot make up its mind before the Federal Reserve Bank decides. While the S&P 500 and the Nasdaq indices hold slight premium, the Dow Jones fell. The main hopes were on good economic news.
On the day before the Fed's interest rate decision, investors stock up on US stocks. The Dow Jones index closed almost unchanged at 27,996 points, while the S&P 500 rose 0.5 percent. The Nasdaq composite was up 1.2 percent.
Investors expected the Fed to lock the key interest rate at the current, historically low level for the foreseeable future, said Sam Stovall, chief investment strategist at the research firm CFRA. This makes stocks attractive compared to other asset classes. According to experts, after the failed talks on another US state economic stimulus package, the Fed is under increasing pressure to help the economy ravaged by the corona pandemic.
Wall Street received additional tailwind from the surprisingly positive Chinese retail sales and industrial production there. "The numbers suggest that economic momentum will continue for the rest of the year," said Mitsubishi UFJ analyst Lee Hardman. This gave a boost to the Chinese currency. In turn, the dollar fell as much as 0.6 percent to a year and a half low of 6.7678 yuan.
At the company advanced Apple into the spotlight. At its eagerly anticipated product presentation, the electronics group did not yet present the new generation of iPhones, but it did improve the iPad and Apple Watch. The sales success in the important Christmas business has a major influence on the annual balance sheet of the group, which is worth almost twice as much on the stock exchange as all 30 Dax values combined. AppleShares rose slightly by 0.2 percent.
The papers of Tesla even increased in price more than seven percent and headed for the fifth consecutive day win. According to the industry service LMC, the electric car manufacturer increased its sales in China to 11,722 vehicles in August.
For the shares of Carnival it was just barely 11 percent down. The "Aida" mother warned of a nearly three billion dollar loss in the current quarter because of the pandemic restrictions. Therefore, the world's largest cruise operator announced another capital increase, the volume of which is said to be around one billion dollars.
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