Wall Street: Broadcom stock under pressure, Snowflake delivers
Oil prices are rising, although the situation in the Strait of Hormuz has calmed down somewhat. Analysts significantly increase their price target for the software company Snowflake after strong figures.
US stocks are poised to open higher, with Wall Street edging into positive territory before the bell. Federal Reserve official Waller stated he will argue against a September interest rate hike, but emphasized that next week's consumer price data must not be unexpectedly high. The probability of a rate hike has dropped to 61%. Meanwhile, oil prices have risen, with Brent crude reaching $96-97 per barrel, despite a slight easing of tensions in the Strait of Hormuz.
Several companies are in focus, including Broadcom, which is under pressure despite a strong quarter, and Snowflake, which has seen its stock boosted by a 35% revenue increase and raised annual outlook.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
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