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The Dow Jones rose 0.52 percent to 28,139.76 points in trading on Tuesday.
There are a number of economic data on the agenda that need to be processed. For example, higher than expected inflation data and the Empire State Manufacturing Index were published, which came in stronger than forecast and thus confirmed the recovery fantasy. US industrial production rose 0.4 percent in August, while the previous month was revised to plus 3.5 percent. Industrial production was 7.3 percent below the February level before Corona. Experts had expected an increase of 1 percent for August.
In the morning, data from China had already strengthened confidence, as retail sales in August showed monthly growth for the first time this year. Other indicators – factory production, investment and real estate data – are also signaling a strong recovery. Macro strategist Sebastien Galy from Nordea Asset Management speaks of a “fairly robust picture” and a “positive surprise”.
Tip the scales
According to analyst Craig Erlam from broker Oanda Europe, the decisive difference this week could be the Fed’s interest rate decision on Wednesday. Now that the monetary authorities have changed their monetary policy framework, this is the first opportunity to apply it. According to observers, however, major decisions are not expected.
Finanzen.net / dpa-AFX / Dow Jones NEwswires
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