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Biontech Vakzin: The need for corona vaccinations is falling
Photo: Carlos Ortega/EPA
Two days before the Fed's interest rate decision, the US stock exchanges rose slightly in late trading.
According to Jens Franck, head of portfolio management at Hamburg-based fixed income specialist Nordix, a further key rate hike of 0.75 percentage points is already fully priced in.
Weak data from the US housing market had no price impact.
The leading index Dow Jones Industrial recently rose by 0.5 percent.
The technology index Nasdaq 100 recorded an increase of 0.8 percent.
Corona pandemic "over": Joe Biden sends Biontech and Moderna into the depths
There was little price-moving company news on the US stock market.
The shareholders of the crypto exchange Coinbase had to cope with a further price drop of nine percent in view of the cryptocurrencies under pressure.
Year-to-date, Coinbase has lost more than half of its market value.
The shares in the corona vaccine manufacturer Moderna and the Mainz-based vaccine manufacturer Biontech each fell by almost ten percent.
According to statements by US President Joe Biden in a television interview, "the pandemic is over", even if there is still a problem with the disease.
Investors expect sales of vaccines to decline significantly.
After good annual figures, the shares of Autozone were also in focus.
The retailer of automotive spare parts earned more than a year earlier.
The papers lost a good two and a half percent recently.
Rate hike of at least 0.75 percent is priced in
The market is expecting the US Federal Reserve to raise interest rates sharply again.
After the surprisingly high inflation figures in the past week, some voices even reckoned with an interest rate hike of a full percentage point, according to expert Franck.
However, he does not share this assessment.
After the weakest week for the global stock market since June, rising interest rates could pull US stock markets further down.
The experts at Dekabank also anticipate sustained high price fluctuations.
On the one hand, several central banks are likely to signal that the fight against inflation has top priority.
On the other hand, there are economic data that paint a gloomy picture.
"In this mixed situation, the mood on the stock market is likely to remain depressed and characterized by restraint."
Meanwhile, the yield on US government bonds with a term of ten years at the beginning of the week temporarily climbed over three and a half percent for the first time since 2011.
Sentiment in the US housing market deteriorated more than expected in September, according to the NAHB housing market index.
It is now the ninth consecutive decline and means the longest streak since 1985. The indicator also reached its lowest level since May 2020.
Bitcoin still under pressure
Because of the prospect of drastic interest rate hikes by the major central banks, investors are withdrawing from risky asset classes such as cryptocurrencies.
The world's best-known digital currency, Bitcoin, was last listed on the Bitstamp trading platform at around 2 percent in the red at 19,100 US dollars.
Ethereum
is also slipping and is as cheap as it was about two months ago.
With news agencies