Wall Street: Falling oil and tech hopes give Wall Street a boost
Lower oil prices and yields support the US stock markets. Apple, Salesforce and Generac provide positive impulses - but hefty outflows from equity funds caution against excessive optimism.
Wall Street is getting a boost from falling oil prices and slightly lower yields. The price of Brent oil has dropped to around $103 per barrel, while 10-year US government bonds are trading just under 5%. The Bank of Japan has raised its key interest rate by 25 basis points to 1.25%, continuing its tight monetary policy, and despite this, the yen has surprisingly weakened.
In the tech sector, Evercore has raised its price target for Apple to $380, citing expectations of higher sales and a stronger demand for premium models. Additionally, Salesforce has received several price target increases after its conference, and Generac has gained from a large order from Amazon worth up to $8 billion. However, global equity funds saw an outflow of $23.2 billion, the largest in nine months.
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.
