The day before, the Dow had easily jumped this mark, climbed to a little over 28,150 points and thus reached its highest level since the end of February. In late trading, however, profit-taking began.
The market-wide S&P 500 rose 1.32 percent to 3377.82 points in early trading on Wednesday and is thus back on the way towards its record high of around 3393 points reached on February 19. The technology-heavy Nasdaq 100, which had weakened after a record high on Thursday, recently gained 2.10 percent to 11,104.60 points.
Analyst Craig Erlam from broker Oanda sees the current once again friendly market trend as an “encouraging sign”. In terms of charts, the situation is not easy. In order to strengthen investor confidence, new highs for the Dow and the broad S&P 500 are needed and, ideally, an end to the recent series of losses on the Nasdaq technology exchange.
The weal and woe in the market are currently mainly dependent on events in the US Congress. An agreement between Republicans and Democrats on a new Corona aid package is still pending. The talks are stuck in a dead end, which had probably triggered the profit-taking the day before. Recently, representatives of the US Federal Reserve (Fed) put pressure on.
Among the individual values, Apple and Microsoft were back at the top of the Dow after losses in the past one to three days with plus 1.9 percent each. Home Depot shares also climbed to a new record high of just under $ 280.
On the Nasdaq, Tesla’s shares were in the focus of investors and jumped 7.5 percent to around $ 1,477. The electric car maker announced a share split. The shareholders receive four more titles for each paper. This should enable more employees and investors to become shareholders. The procedure should take effect on August 31. The move is just right, as the appetite for the share and the topic of electric mobility continues to grow, said a US analyst.
Meanwhile, the cable company Liberty Global wants to completely take over the Swiss telecommunications company Sunrise, in which it already has a stake. The German mobile phone company Freenet wants to offer him its 24 percent stake in full. The Liberty titles recently gained 3.4 percent. According to analyst Usman Ghazi, the company will benefit from this deal. The price for Sunrise could be higher, he wrote. At the same time, however, he expects the takeover to take place as negotiated by the companies ./ck/he
(AWP)
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