US equity markets are likely to repeat Friday’s losses early in the week on interest rate and inflation concerns. The Dow Jones Industrial was valued by the broker IG almost three quarters of an hour before the start of trading with around 1.0 percent in the red at 33,373 points. With minus 1.5 percent to 13,048 points, the technology-heavy Nasdaq 100 was last expected.
The central bankers’ meeting in Jackson Hole, Wyoming, which begins on Thursday, is likely to be the main focus of the new trading week. Investors are speculating that the Federal Reserve will continue to tighten tightly to contain high inflation. The appearance of US Federal Reserve Chairman Jerome Powell is awaited with particular excitement. Ahead of the September Fed meeting, Powell is likely to reiterate what he and his colleagues have been saying publicly of late, without revealing too much ahead of the September Fed meeting, according to broker Oanda analyst Craig Erlam.
Tesla shares might be worth a look among individual stocks. After CEO Elon Musk announced a price increase for the package of fully autonomous driving, they fell by 1.9 percent in premarket trading. The full self-driving (FSD) of the electric car manufacturer should therefore rise to 15,000 US dollars. At the beginning of the year, the price was still 10,000 dollars.
After a court ruling, Ford’s shares fell 3.6 percent premarket. In connection with the deadly rollover of an F-250 pickup truck, the automaker announced that it would appeal a judgment with an agreed penalty of $1.7 billion.
In the premarket market, shares in Signify Health are up more than 40 percent. The Wall Street Journal reported that Amazon, UnitedHealth and Option Care Health are working with CVS Health to bid on the home health care provider.
On Friday, shares of Bed Bath & Beyond fell 17 percent premarket, continuing Friday’s massive drop. They fell more than 40 percent on Friday following it was announced RC Ventures, the company owned by activist investor Ryan Cohen, had sold its entire stake in the home goods retailer for $178 million.