Wall Street investors are only briefly pleased with the prospect of a continuation of the US zero interest rate policy through 2023. Meanwhile, a software specialist is celebrating a spectacular debut on the stock market and a competitor from Deutsche Post is getting a big boost.
The US stock exchanges closed inconsistently after the Federal Reserve's decision. Of the Dow Jones Index the defaults went 0.1 percent higher to 28,032 points from trading. The technology-heavy one Nasdaq on the other hand, fell 1.3 percent to 11,050 points. The broad one S&P 500 lost 0.5 percent to 3385 points.
In early trading, hopes of a sustained flood of cheap central bank money had propped Wall Street. The leading German index was in Frankfurt Dax climbed 0.3 percent to 13,255 points. The Federal Reserve Fed After changing its strategy in the face of the Cornona crisis, it is sticking to its policy of ultra-low interest rates. Following two-day deliberations, the monetary watchdogs headed by Federal Reserve Chairman Jerome Powell also stated that they would not shake this expansionary orientation for as long as is necessary to achieve their goals.
They held out the prospect of keeping interest rates close to zero until inflation was on the way to "moderately exceeding" the target of two percent inflation "for some time". The US Federal Reserve left its key interest rate to supply the banks with money in a range between zero and 0.25 percent.
Hurricane "Sally" drives oil prices up
Investors stocked up on crude oil due to possible production failures in the Gulf of Mexico. "We are currently expecting losses of three to six million barrels in the next eleven days due to hurricane 'Sally'," wrote the analysts at brokerage firm Rystad. The type of oil Brent from the North Sea then rose by more than four and a half percent to $ 42.39 per barrel (159 liters).
With a surprisingly high quarterly profit, the Deutsche Post rival Fedex shine. The shares shot up nearly six percent. Thanks to the boom in online retail and the associated increase in parcel shipments during the corona pandemic, adjusted net profit climbed 60 percent year-on-year to $ 1.28 billion.
The shares of the software specialist celebrated a spectacular stock market debut Snowflake, which were more than 111 percent more expensive than the issue price of $ 120. At $ 290 billion, the California cloud data platform is valued at more than $ 80 billion. With revenues of approximately $ 3.4 billion, it is the largest market debut in the US this year.
. (tagsToTranslate) Wall Street (t) Fed (t) Dow Jones (t) stock prices