MARKET USA/stock exchange expected friendly – Tesla very firm after record profit

A friendly start to Thursday trading is emerging on Wall Street. Market participants are pointing to a solid reporting season so far and hopes that inflationary pressures are easing. Above all, technology stocks, which are considered interest rate-sensitive, should benefit from the recent somewhat lower US bond yields.

The focus is on virtual appearances by US Federal Reserve Chairman Jerome Powell at the Volcker Alliance and the Penn Institute for Urban Research as well as at the World Bank and International Monetary Fund Spring Meetings. In terms of economic data, the Philadelphia Fed index for April and the initial jobless claims from the previous week will be released.

Among the individual values, Tesla is up around 7 percent in the pre-market. The electric car maker posted record first-quarter profit of $3.3 billion.

The outlook for United Airlines (+7.5%) is also well received. United is confident that higher costs can be passed on to passengers.

Meanwhile, Alcoa (-5.7%) lowered its forecast for bauxite sales. The aluminum company referred to the war in Ukraine and its withdrawal from the Russian business.

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(END) Dow Jones Newswires

April 21, 2022 05:57 ET (09:57 GMT)

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