Awaiting US data: the stock market is paralyzed

market report

Status: 2022-11-23 16:55

Uncertainty about the future interest rate of the US Federal Reserve Bank continues to make investors cautious. Wall Street is also anxiously awaiting the new data.

Investors are taking a similar view today as they have been all week. The DAX was little changed at a high of 14,400 and investors are waiting for a fresh boost. They may emerge from the US later this evening when the minutes of the Federal Reserve Bank (Fed) interest rate meeting are released.

“Investors are often excited not by the content of the protocols, but by the subtle changes,” says Craig Orlam of the Orlando broker. In general, the US Federal Reserve expects a slower pace in the stock markets. “Still, interest rates are likely to be raised further to further fight inflation,” said market analyst Christian Henke at broker IG.

Wall Street is slightly higher at the start

Investors in New York are also eagerly awaiting the Fed’s minutes. Plus, there’s a long weekend ahead: U.S. trade will be closed for the Thanksgiving holiday on Thursday. Many investors take advantage of this and the Black Friday that followed for a longer break.

Meanwhile, the stock market is building on the recovery from the previous day’s early trade and continues to rise. The leading Dow Jones is up about 0.3 percent, while the tech-heavy Nasdaq is up about 0.8 percent.

Day before The Dow broke the 34,000-point barrier for the first time in three months. With an increase of about 19 percent since mid-October, investors were betting that the Fed could slow its rapid pace of tightening slightly at its next rate meeting in mid-December. “The risk to markets is that monetary authorities may be less restrictive than expected,” said a market watcher. As a result, the impact of future interest rate hikes may need to be reassessed.

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US industry with increase in orders

Meanwhile, the stock market has plenty of other U.S. economic data to process. The industry saw a surprising number of orders in October. Orders for durable goods such as aircraft and machinery rose 1.0 percent from the month, the Commerce Department said today in Washington. Experts had expected just a 0.4 percent rise after September…

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