Börse Express – New York Stocks: Wall Street takes off

NEW YORK (dpa-AFX) – Wall Street is conciliatory at the end of the week after the recent setback. At the reduced price level, investors took more courageously on Friday, especially for the recently neglected standard values. Instead, the recently better technology stocks lagged behind the rally.

The New York benchmark index Dow Jones Industrial, which is characterized by standard values rose by 1.23 percent to 34,845.04 points two hours before the end, so it would have increased moderately in the current week. The S&P 500 followed him on Friday by 1.00 percent to 4,363.84 points, making it the only major US index to set a new record. The technology-heavy selection index Nasdaq 100
last stood at 14 816.49 points. He brought it to a plus of 0.64 percent.

The previous day, increasing concerns about the spread of the delta variant of the coronavirus and economic pessimism had weighed on it. In the case of US government bonds, which were recently in demand as a safe haven, there was now profit-taking. Due to the setback the day before, not much porcelain was smashed in stocks, said an expert. There are now bargain hunters at work again.

The yield on ten-year US bonds rose to 1.36 percent on Friday after falling to a five-month low of 1.25 percent the previous day. Accordingly, financials were among the favorites in the Dow after suffering heavily from falling market rates in the past few days. Goldman Sachs papers and JPMorgan advanced 3.4 and 3.0 percent. At banks, higher interest rates are seen as an advantage in day-to-day business, for example with loans.

In the back of the Dow, however, dived with Microsoft and Salesforce two technology stocks with only stable courses. Some stockbrokers cited reports that US President Joe Biden is striving for the early end of certain legal frameworks of his predecessor Joe Trump in order to ensure more competition among Internet and technology companies as a stumbling block. The Apple shares stood out in the sector but positively, they climbed 1.3 percent and reached record levels.

Outside of the Dow, auto stocks were in strong demand, like General Motors’ gains of 4.7 and 3.1 percent and Ford
showed. A significant industry recovery spilled over from Europe. Volkswagen spread a better mood there with strong key data. This has alleviated concerns about the current semiconductor shortage in the industry.

The vaccine partner Pfizer and Biontech
pleased investors with the statement that they wanted to apply for emergency approval for a third vaccination in the USA and Europe, among other places. The two companies assume that a further dose will receive the highest level of protection against all corona variants tested so far. Pfizer gained 1.0 percent and New York-traded Biontech shares advanced 4 percent.

There were strong price gains outside of the major indices in numerous steel stocks, with US Steel in particular making a positive impression with a price jump of eight percent. They followed a global rally in commodity values. Here too, steel stocks in Europe had already made a very positive impression. In a study on Friday, Bank of America once again raised its steel price expectations and confirmed its optimistic stance.

It was also worth taking a look at the tobacco company Philip Morris International , which made headlines with a $ 1.2 billion takeover offer for British inhaler specialist Vectura. The move was well received by investors on both sides: Morris shares rose 1.1 percent in New York, while those of the takeover target in London rose by almost 13 percent ./tih/jha/

 ISIN  US2605661048  US6311011026  US78378X1072

AXC0254 2021-07-09/20:27

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