In the middle of this week, the Fed and ECB will announce their interest rate decisions. Investors on Wall Street are in a buying mood before this "double boom". The leading US indices are benefiting from this.
At the beginning of an eventful week, investors in the US showed courage. The Dow Jones Industrial gained nearly 1.6 percent to 34,005.04 points. The market-wide S
Commerzbank's foreign exchange experts speak of a "Fed/ECB double boom" in view of the key interest rate decision in the euro zone on Thursday, just one day after the Fed. It will be too early for both central banks to give the all-clear on inflation. According to the experts, however, the market is expecting inflation to fall rapidly. Producer prices had recently been disappointing in this respect. With the US consumer price data for November, the next important signal generator for American monetary policy is on Tuesday's agenda.
It is generally expected that the US Federal Reserve will only raise interest rates by 0.50 percentage points at its meeting on Wednesday. In the past four meetings, the Fed had hiked by 0.75 points.
Takeover reports caused particularly strong price movements. Shares in the business technology platform Coupa Software jumped almost 27 percent to $78.79 and ended trading at $78.65. The US investment company Thomas Bravo had announced that it would buy Coupa for $81 a share in cash and then take it private.
Horizon Therapeutics was up nearly 15.5 percent to $112.36. The New York-listed Irish biopharmaceutical specialist for rare diseases has been targeted by Amgen. The Americans are offering $116.50 per share in cash. That's a good $26 billion in total. Horizon supports the offer.
The cooperation between Mercedes-Benz and Rivian for joint e-transporter production, which was initially put on hold, pushed the shares of the electric car manufacturer by more than 6 percent to their lowest level since July. As both sides announced, the US company is currently preferring other projects.
The euro again did not quite make it to the 1.06 US dollar mark and gave up gains in the meantime. Most recently, the common currency cost $ 1.0535. The European Central Bank had set the reference rate at 1.0562 (Friday: 1.0559) dollars. The dollar had thus cost 0.9468 (0.9471) euros.
After a positive start, US Treasury bond prices fell and yields accordingly continued to recover from their three-month lows in the previous week. After the daily low of 3.521 percent, it rose to 3.625 percent.
