NEW YORK (dpa-AFX) – It seems unlikely that the Dow Jones Industrial will repeat the previous day’s record on Tuesday. After its lively start to the new stock market year, the broker IG estimated the US leading index 0.1 percent lower to 48,926 points three quarters of an hour before the start of the stock exchange. For a new record, an increase to 49,210 points would be necessary.
Other US indices could do a little better on Tuesday after their start to the year was so far more moderate than the Dow. In addition to the S&P 500, this also applies to the NASDAQ 100, which IG recently calculated 0.2 percent higher at 25,443 points. But there is still some distance to their records.
The Dow had set off a positive record the day before with its record, which was justified, among other things, by soaring stocks from the oil sector after the US attack on Venezuela. Politically, US claims to control over Greenland are now taking center stage. European countries are supporting the country, which is part of the Kingdom of Denmark but is autonomous.
Following the capture of Venezuelan head of state Nicolás Maduro, Joshua Stone from UBS sees an opportunity for a new medium-term growth area for oil companies with a presence in Venezuela. From the Dow, Chevron shares were able to build on their previous day’s rally with plus one percent in the premarket.
In the technology sector, Microchip Technology made a positive headline with an increased sales outlook for the third quarter. The semiconductor manufacturer’s shares rose by four percent before the trading session. Expert Mark Lipacis from Evercore ISI emphasized that this happened just four weeks after a target increase had already taken place. He believes the company will benefit from a replenishment cycle that should gain momentum shortly.
In the chip sector, attention was also drawn to a speech by NVIDIA boss Jensen Huang at the opening of the CES trade fair in Las Vegas. He announced that his own expertise in the field of artificial intelligence will soon be increasingly brought into the business with self-driving cars. He also announced the start of production of the next chip system called Vera Rubin. Nvidia shares were up 0.8 percent premarket. This made them the best among the seven most important US technology stocks.
Two small-cap stocks were in demand because of upgrades by analysts: shares from the clinical consulting company Fortrea rose by 5.5 percent in the pre-market after they were recommended by the analysis house Evercore ISI in anticipation of an accelerated cycle. With a view to 2026, JPMorgan is now optimistic about the shipbuilder and sports equipment manufacturer Brunswick, whose shares rose by 1.3 percent in the premarket./tih/jha/