The US stock exchanges have recovered from losses

The US stock exchanges have recovered strongly from the losses on Monday. The Dow Jones index gained 0.9 percent to 34,315 points. The S&P 500 was up 1.1 percent, the Nasdaq composite was up 1.3 percent. According to initial information, there were 2,018 (Monday: 1,271) price winners and 1,294 (2,101) losers at the Nyse. 119 (122) titles closed unchanged. Participants saw attractive entry levels after the drop in prices. Dan Ives, technology analyst at Wedbush, for example, believes the recent tech sell-off is unjustified. The sector’s growth prospects are massively underestimated, so the third quarter figures should give the sector a boost. At the end of the year, technology stocks are likely to be 10 percent higher, predicts Ives. New York Life Investments economist and portfolio strategist Lauren Goodwin said, "Despite some of the risks we see, company and economic fundamentals are quite constructive for markets." According to information from the trade, the reasons for the sell-off on Monday were the ongoing negotiations between Republicans and Democrats to raise the US debt ceiling, the global energy crisis with high oil prices and the new developments surrounding the staggering Chinese real estate company Evergrande. Fears of interest rates had mainly sent technology stocks downhill. Now they are looking hopefully at the labor market report on Friday and the reporting season for the third quarter. However, it will take a while before the balance sheet season really gets going. Only Pepsico published pre-market figures of the major US companies. The beverage company realized and earned more in the third quarter than expected, which is why it has raised its targets for the financial year. The stock was 0.6 percent higher.