NEW YORK (dpa-AFX) – At the beginning of an eventful week, investors in the USA showed courage. The Dow Jones Industrial (Dow Jones 30 Industrial) gained 0.9 percent to 33,786 points two hours before the end of trading. The market-wide S&P 500 rose by 0.6 percent to 3958 points. The technology selection index NASDAQ 100, which was in the red in the meantime, climbed by around 0.3 percent to 11,595 points.
Commerzbank’s foreign exchange experts speak of a “Fed/ECB double whammy” given the decision on Thursday, just one day after the Fed euro zone. 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 regard. The US consumer price data for November will be the next important signal for the American economy on Tuesday monetary policy on the 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 business technology platform Coupa Software jumped nearly 27 percent to $78.79. 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 a good 15 percent to $112.06. 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 (Mercedes-Benz Group (ex-Daimler)) and Rivian (Rivian Automotive) for joint e-transporter production, which was initially put on hold, pushed the shares of the electric car manufacturer by more than 5 percent to their lowest level since July . As both sides announced, the US company is currently preferring other projects./ag/men