Wall Street: 54 Prozent der Aktien im Bärenmarkt – kommt jetzt die große Rotation?
Die hohen Anleiherenditen sowie der Ölpreis belasten die Aktienmärkte. Der Start der Börsenwoche fällt daher eher verhalten aus.
Wall Street kicked off the new week on a cautious note, with 10-year US Treasury yields trading at 5.27 percent and Brent crude priced around 103 US dollars. Meanwhile, recent labor market and inflation data showed slightly less pressure, and several Federal Reserve members suggested that another interest rate hike in October is unlikely.
The market currently expects the next move to come in December. Notably, there is a significant weakness below the index surface: 54 percent of the Russell 3000 stocks have fallen by more than 20 percent since June, while the S&P 500 is already trading at a discounted price-to-earnings ratio of around 19. Morgan Stanley sees opportunities in cyclical quality stocks, particularly industrial ones.
Meanwhile, the fundamental data remains strong, with the S&P 500 expected to deliver 27 percent profit growth and ten percent revenue growth in the third quarter. The benchmark is high after the recently revised estimates. The AI boom remains a key pillar of support, with Foxconn reporting a 47 percent revenue growth in the third quarter, another sign of robust investment in AI infrastructure.
However, the ongoing conflict in the Middle East remains a challenge: Iran has so far refused to fully reopen the Strait of Hormuz.
Written by urgent.news from Handelsblatt's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
