Sunday , September 19 2021

ROUNDUP / New York Stock End: Dow and S&P set new records | 04.12.20

NEW YORK (dpa-AFX) – Dow Jones Industrial (Dow Jones 30 Industrial) set a new record Friday after a few days of hiatus. The leading index rose above 30,200 points for the first time and surpassed its previous high by around 100 points compared to the previous week. He closed with 30 218.26 points at his daily maximum. It increased its weekly surplus value to 1 percent with an increase of 0.83 percent.

By the end of the week, the standard values ​​were in more demand than the technology values, and this brought not only Dow but also the wide S&P 500 to a record high. It rose to 3699.12 meters with an increase of 0.88 percent. The technology selection index NASDAQ 100 rose 0.49 percent to 12,528.48 points, but it failed to break another record. However, this was accomplished by its broader index sibling, the Nasdaq Composite (NASDAQ Composite Index).

Investors in New York were not affected by the US employment growth in November, far below expectations. It was said in the market that this was compensated in hopes of a new stimulus package. With mixed employment data, pressure on parties in Washington to finally reach an agreement has increased.

Marketers pointed out that the future will be bought and sold on stock exchanges – and investors are building in the United States in the hope that more government aid will be available and the few vaccines that are about to be approved will show a way out of the crisis. The historically high gains in November, with new route records every day, are an expression of this.

Investors in the oil sector were in a good mood after agreeing on a lower increase in Opec + oil production in the oil network than planned in a previous plan. In addition to the oil price, this also increased the share prices of companies such as Chevron and ExxonMobil, whose shares rose up to 3.9 percent. Occidental Petroleum rose over 13 percent among other industry stocks.

“Delivery volumes are only increasing very slowly. This means that Opec + is still adapting its delivery volume to the current purchasing possibilities of the fragile economy,” wrote Thomas Altmann, market expert at asset manager QC Partners. “This is a positive signal for the oil price.” This often has a positive effect on the stock prices of multinational oil companies.

At the Dow, Boeing paid tribute to its latest rally with a 1.9 percent cut. Some investors have now cashed in cash, after shares have increased nearly 70 percent since the beginning of November due to the vaccine prospect and the lifted flight ban for the crisis jet 737 Max. As known on Friday, the aircraft manufacturer plans to further reduce long-haul 787 “Dreamliner” production.

Otherwise, the main focus was on vaccine developers. As Moderna explains, study data show that one’s own vaccine can protect against Covid-19 for a longer period of time. Strong stocks fell 3 percent on Friday due to profit taking.

Even in the BioNTech course, the weather is getting thinner. The papers of the company Mainz, which had been slightly affected by a report on supply chain barriers the previous day and initially weakened again in US trade, still managed to gain 1.1 percent. Shares of US partner Pfizer gained 0.6 percent.

Otherwise, the shares of Uber and Lyft, the transportation service providers, which have also been affected by the corona crisis in recent months, have strengthened. Lyft jumped seven percent to reach levels before the virus crash in February. A 4.5 percent increase was enough for another record high at Uber. They made up for the accident that occurred in early November.

The euro continued to rise only temporarily. After rising to $ 1.2178, the highest level since April 2018, the common currency was most recently listed at $ 1.2127. The European Central Bank (ECB) has set the reference rate at $ 1.2159 (Thursday: 1.2151). The dollar cost 0.8224 (0.8230) euros.

The prices of US government bonds fell again. The price of the ten-year Treasury (T-Note-Future) futures contract fell 0.28 percent to 137.37 points. On the other hand, the yield on the ten-year bond rose to 0.97 percent.

— Timo Hausdorf, by dpa-AFX —


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