US exchanges close stable
Wall Street is looking forward to Nvidia numbers
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Hardly any movement on the US exchanges: In the expectation of the results of the chip manufacturer Nvidia, investors keep their feet still. The numbers should give an outlook on the future of the AI industry. A burst bidding duel, however, presses the share of the production company Paramount.
The most recent US economics data brightened up the mood on Wall Street. The Dow-Jones-Sindex of the default values noted stable at 41,251 points. The broader S&P 500 moved 0.2 percent to 5629 points. The index of the technology agency Nasdaq gained just as much to 17,767. The barometer for the consumer mood in the United States in August rose to 101.9 points in July to 103.3 points, as the Institute Conference Board announced on its survey. Experts surveyed from Reuters had expected a value of 100.7 points for August.
With a view to the next twelve months, consumers' inflation expectations have slipped to the lowest level since March 2020. The consumers also looked more skeptical about the job market. “This report supports an interest rate reduction of the US Federal Reserve, but is not so weak that it indicates a recession at this time,” said Conrad Dquadros, consultant at the Brean Capital investment bank.
Waiting excited for Nvidia
“Most of the nervousness on the market is to expect the results of Nvidia“, said Paul Nolte, consultant and strategist at the asset manager Murphy & Sylvest. The manufacturer of special chips for artificial intelligence presented its quarterly figures on Wednesday.” The high expectations have already been met, but the new figures will be a good indicator , how robust the AI really is, “explained the expert. The manufacturer's high -altitude flight drove stocks in the industry at the start of the year. But in the past reporting season, the cost explosion in booming technology made investors nervous.
The oil prices, however, clearly gave up after the youngest rally: crude oil from the Brent variety from the North Sea and US light oil WTI each reduced by around two percent to $ 79.83 and $ 75.76 per barrel (159 liters). In the past three trading days, the tensions in the Middle East, together with the concern before a possible closure of Libyan oil fields, had increased oil prices by more than seven percent.
Bidding duel burst around Paramount
At the companies, a burst bidding duel pressed the share of Paramount 5.6 percent into the minus. Media manager Edgar Bronfman Jr. gave his attempt to take over the film production company. The way for the US film producer David Ellison for taking over Paramount is free. A negative analyst comment also set the Hershey-share under pressure. The title of the confectionery manufacturer from Pennsylvania gave up almost 2.5 percent to $ 191.90.
The analysts of the financial service provider Citigroup had downgraded them to “Sell” after “neutral”. The price target was reduced to $ 182 from $ 195. The background to be weaker margins in view of higher cocoa prices and a persistently stagnant demand in North America. In contrast, the US-noded titles of the Chinese online retailer were asked Jd.comthat increased by almost three percent. In the 36 months from September, the group plans to buy its own shares worth $ five billion.
