Hopes of a turnaround in inflation are burgeoning on Wall Street. Standard values can benefit from the positive sentiment. Winner of the day is retail giant Walmart and online bank Nu.
Investors are grabbing US stocks in anticipation of more cautious rate hikes by the Fed. The US blue chips index Dow Jones and the broad S
The rally was triggered by the surprisingly small increase in US producer prices in October. "The data supports hopes that inflation is turning the corner," said Robert Pavlik, portfolio manager at wealth manager Dakota Wealth. He therefore expects the Fed to only raise the key rate by half a percentage point in December after four XXL rate hikes of 0.75 percentage points each in a row. The pace in the coming year depends on further price developments.
On the foreign exchange market, the dollar traded somewhat lighter with the producer prices. The dollar index fell 0.2 percent. This reinforces the expectation that the Fed will increase interest rates at a slower pace, it said. US bond market yields eased on the prospect of slower rate hikes by the Fed
After the previous day's losses, prices on the oil market were somewhat firmer again, supported by geopolitical uncertainties surrounding the Ukraine war. The price of Brent rose by 0.6 percent, the WTI price by 1.2 percent. Most recently, Opec had left its forecasts for global oil supply and demand largely unchanged, warning that major uncertainties such as the Covid-19 cases in China and Western efforts to thwart Russian oil exports weighed on the prospects for make the energy markets highly uncertain.
Walmart was one of the winners on the US stock market with a price increase of 7.3 percent. The world's largest retailer raised its full-year targets and plans to buy back $20 billion of its own stock. The company also surprised positively across the board with its quarterly figures, praised analyst Michael Banker from the research house DA. davidson This brightened sentiment across the industry. As a result, Home Depot also overcame its initial price weakness and gained two percent. Although the hardware store chain had presented quarterly figures above market expectations, it was cautious about the Christmas business.
The US stocks of the Taiwanese chip provider TSMC headed for the largest daily gain in 14 years with an increase of almost 14 percent at times. Stock market guru Warren Buffett and his investment company Berkshire Hathaway bought the world's largest contract manufacturer for around four billion dollars. According to insiders, TSMC is negotiating with the city of Dresden about the construction of a semiconductor plant in the Saxon state capital.
Another Buffett holding also posted strong gains: Brazilian online bank Nu. With an increase of up to 21 percent, your titles beckoned the largest daily increase since the IPO around a year ago. The institute reportedly increased sales by 171 percent to a record high of $1.3 billion.