US stock markets show recovery, but inflationary pressure remains
After losses in recent days, investors returned to buying on US stock markets on Friday. Stocks in the semiconductor sector, in particular, spurred a noticeable upward movement.
The Nasdaq 100 rose by 1.4 percent, while the S&P 500 also closed in positive territory. However, the majority of stocks included in the index recorded losses. These were offset by the influence of a few large technology companies that significantly boosted the market.
Market observers, however, are cautiously optimistic about this price increase. Traders see this more as covering short sales and the search for attractive offers, not as a sign of a sustainable trend reversal.
The pressure from rising interest rates is increasing again. A strong jobs report and consumer confidence, which rose to a three-month high, indicate a robust economy. This opens the door for the Federal Reserve to consider another interest rate hike in December. Several members of the Fed have recently emphasized that the fight against inflation is not yet complete.
As a result of these developments, the yields on two-year government bonds have risen, which also boosted the dollar. Rising financing costs are particularly burdening capital-intensive future sectors. Investors are now demanding concrete profits from the high investments in artificial intelligence, not just growth expectations.
The operational reality in the technology sector is also causing disillusionment. The AI startup Anthropic has to reconsider its IPO plans, as the expected valuation has fallen due to recent market turmoil. At the same time, established companies are adjusting their strategic partnerships. Microsoft is ending an agreement with Oracle for renting AI computing power and is reviewing multi-billion dollar cloud partnerships. Alphabet has acquired a location from Crusoe in Wyoming after the startup failed to find sufficient demand for its data centers.
Tesla has halted production of the Cybertruck, as the model clearly missed CEO Elon Musk’s sales targets. At SpaceX, Musk announced plans to reduce dependence on government contracts in the future. The Taiwanese semiconductor giant TSMC is reportedly considering entering the production of modern memory chips.
Source
“Wall‑Street‑Schluss: Schnäppchenjäger greifen zu, doch Zweifel bleiben”
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