Börse Express – ROUNDUP/Aktien New York Conclusion: US stock exchanges start recovery after the downturn

NEW YORK (dpa-AFX) – The US stock exchanges made up for some of their heavy losses from Friday at the start of the week. Investor fears about Omicron dissipated somewhat as the new variant of the coronavirus “is cause for concern, but no reason to panic,” according to market analyst Edward Moya of broker Oanda. It could possibly also be the necessary impetus for more people to be vaccinated. Moya also pointed to strong data from the real estate sector, as pending home sales rose surprisingly sharply in October.

On Wall Street, the Dow Jones Industrial gained
ultimately 0.68 percent to 35,135.94 points after the US stock market barometer had temporarily completely given up its gains in early trading.

The market-wide S&P 500 rose 1.32 percent to 4655.27 points on Monday, and the Nasdaq 100 advanced by 2.33 percent to 16,399.24 points. On Friday, both the Dow and the technology stock index fell more than two percent in shortened trading after reports about Omicron made the rounds.

In view of the brightened mood, market analyst Jochen Stanzl from CMC Markets also wrote: With the reports on Omikron, hopes had sprung up again that the US central bank would give in and reconsider its recently adopted “tapering course” – i.e. the reduction in bond purchases . “Monetary policy is likely to give way if the new virus mutation poses a threat to the ongoing economic recovery and could prolong the pandemic.”

News from vaccine manufacturers was also positive. So did the biotech company Moderna announced on Sunday it could mass-produce a vaccine specifically tailored for Omicron early next year.

The Mainz competitor Biontech also announced that he was working on the development of an adapted vaccine. Accordingly, both papers continued their recovery rally. Moderna gained another nearly 12 percent after rising more than 20 percent on Friday, topping the Nasdaq 100. New York-listed Biontech stocks gained another 4.2 percent after their most recent roughly 14 percent gain. However, both titles still have a long way to go before they reach their record highs in August.

Things continued to look rather bleak for stocks from the travel and leisure industry: American Airlines stocks ,
Delta Southwest and Jetblue Airways fell. United Airlines only recovered somewhat with a plus of 0.7 percent.

At the start of trading, Twitter shares jumped in price by 11 percent at times , but in the end it went down by 2.7 percent. The trigger for the initial jump in price were media reports about a change in top management. The short message service later confirmed this, but the fact that the previous technical director Parag Agrawal took over the office was not well received.

Analyst Susannah Streeter from the British wealth manager Hargreaves Lansdown reasoned: Investors were so dissatisfied with Dorsey’s “part-time role” as CEO that the price jump was understandable. But the fact that Agrawal is now taking over the helm was not convincing. Investors would have hoped for a breath of fresh air from an external candidate.

The Euro was $1.1283 at the close on Wall Street. The European Central Bank had set the reference rate at 1.1276 (Friday: 1.1291) dollars. The dollar thus cost 0.8868 (0.8856) euros.

On the US bond market, the contract for ten-year Treasuries (T-Note Future) recently fell by 0.01 percent to 131.16 points. The yield on 10-year Treasuries rose to 1.51 percent./ck/mis

— By Claudia Müller, dpa-AFX —

 ISIN  US2605661048  US6311011026

AXC0382 2021-11-29/22:46

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