NEW YORK (dpa-AFX) – After two good trading days, the recovery on the US stock markets continued on Tuesday. Prices are being driven by the hope that the cycle of interest rate increases in the USA could come to an end. The leading index Dow Jones Industrial (Dow Jones 30 Industrial) rose by 0.58 percent to 33,798.13 points. This marks the third day in a row of price gains.
The head of the regional central bank in Atlanta, Raphael Bostic, reiterated his view on Tuesday that key interest rates in the USA probably do not need to be increased further. The monetary policy According to Bostic, the Federal Reserve is now restrictive enough to move inflation back towards two percent. This also gave the US stock markets a boost. On the US bond market, however, interest rates on government bonds gave up their temporary gains.
The market-wide S&P 500 gained 0.72 percent to 4367.06 points. The NASDAQ 100, which is predominantly made up of technology stocks, rose by 0.70 percent to 15,152,288 points.
“The major central banks have probably reached peak interest rates,” wrote economist David Folkerts-Landau from Deutsche Bank. There are signs of a soft landing for the economy in the United States. Inflation has fallen without causing tensions in the labor market.
Among the individual stocks on the stock market, the focus was on the beverage and snack manufacturer PepsiCo, whose higher profit forecast investors rewarded with a price premium of 2 percent. The shares of its rival Coca-Cola gained 2.6 percent and were in second place behind Boeing in the leading Dow index.
Unity Software (Unity Software) gained 2 percent. It was well received by the market that CEO John Riccitiello is retiring from the video game software developer. This should give investors confidence again, said an analyst. The share price has fallen sharply in recent months.
Juniper Networks shares lost 1.5 percent after major bank JPMorgan withdrew its buy recommendation for the network equipment provider’s shares. Shares in electric car manufacturer Rivian (Rivian Automotive), on the other hand, rose by 5.6 percent, driven by a new buy recommendation from UBS./bek/he