Quotes of futures for US stock indices are actively rising on Tuesday after the collapse of the indices over the previous few sessions.
“We are seeing some recovery in risk appetite on Tuesday after a very weak start to the week,” Citigroup strategists wrote.
The day before, the Dow Jones Industrial Average ended trading in the bearish trend zone (that is, it fell by 20% or more from the last peak) for the first time since the beginning of the coronavirus pandemic, and the Standard & Poor’s 500 updated its low since December 2020 on fears of consequences for the global economy from high inflation and rising interest rates.
“Increased volatility in the currency markets has exacerbated an already difficult situation in most asset classes,” said Richard Hunter of Interactive Investors.
At the same time, the leadership of the Fed is still making “hawkish” statements, not allowing the markets to hope for a slowdown in the rate hike.
In particular, the head of the Federal Reserve Bank of Cleveland, Loretta Mester, said that “we need the rate to be raised higher and remain high for longer than we previously thought.” “We can’t avoid the pain. It’s a very painful situation,” added Mester, who is a voting member of the Federal Open Market Committee (FOMC) this year.
Shares in Hertz Global Holdings surged 3% in US pre-trading on Tuesday on news that the car rental service has signed a memorandum with British energy company BP to develop a network of electric vehicle charging stations in North America.
The price of shares of memory chip maker Micron Technology is growing by 1.9%, despite the fact that analysts from several investment companies at once worsened forecast quotes for the company’s shares.
Capitalization of software developer Splunk Inc. increased by 2%. The company announced last night that CFO Jason Childe plans to step down in early November.
The value of the December E-mini futures on the Dow Jones index by 15:34 quarter rose by 1.11% and amounted to 29669 points. Quotation of the December E-mini futures on the S&P 500 rose by this time by 1.39%, to 3721 points. Futures on the Nasdaq 100 index for December added 1.63% and reached 11,501 points.
