Börse Express – ROUNDUP / New York Stocks Conclusion: Impressive recovery also thanks to the biden effect


The US stock exchanges have a mid-week
impressive countermovement on the reset from the previous day
responds. The US primary was used as a support
Presidential candidacy seen by the Democrats, in which
former US Vice President Joe Biden prevailed. Also the
US determination to deal with the coronavirus crisis helped.
The Dow Jones Industrial won 4.53 percent on 27
090.86 points. From a technical point of view it was important that he was there
could leave its previous day’s high from early trading.

With this, the Dow dared to try again to get off the course slide
to recover because of the novel corona virus. To record high at 29
568 points, just three weeks ago, are still missing
almost 2500 counters. For the market-wide S&P 500 went
it rose 4.22 percent on Wednesday to 3130.12 points. The
technology-heavy Nasdaq 100 gained 4.13 percent
8949.28 points.

The US Federal Reserve sees the economy in the country despite the appearance
of the corona virus is on course for growth, as from the recent
Fed Economic Report (Beige Book). However, they are
Supply chains are already disrupted by the virus and it comes to
Delays. The Beige Book considered data until the 24th
February. At that time, the spread of the corona virus started
increasingly noticeable on the financial markets. The United States want now
for the fight against the virus new funds of 8.3
Provide billions of dollars.

In the race for the presidential candidacy of the US Democrats caught up
Former Vice President Joe Biden on “Super Tuesday” in 10 of 14
States victory. According to experts, he is with investors
more popular than the politically left senator Bernie Sanders. The
former New York Mayor Michael Bloomberg retired
meanwhile back from the race.

The prospect of a showdown between President Donald Trump
and Joe Biden as a challenger are clearly positive for the markets,
commented the economists of Capital Economics. “Biden is a
Preferred candidate of the financial markets “, wrote Thomas Gitzel,
Chief economist at VP Bank in Liechtenstein. “The moderate
Democrat would ease trade conflicts. “

The health insurer’s shares soared at the top of the Dow
UnitedHealth Group by 10.72 percent high, with which it
on the winning streak of Joe Biden in the primaries of the
US Democrats responded on Super Tuesday. Through Biden’s success
the worries about possible negative effects of the
Party rivals Sanders planned general health insurance for
all Americans (“Medicare for All”) mitigated, it said on the market.

The papers of the American Express credit card company
recovered from their previous day’s losses of 7.12 percent
more than 5 percent. Bottom in the Dow were Boeing stocks
with a plus of 0.89 percent.

The General Electric (GE) industrial group
confirmed its forecast for the current year despite one of the
Coronavirus impacted the first quarter. The plus of 0.64 percent
was lean, however.

Abercrombie & Fitch stocks benefited from business figures
and Campbell Soup that by 8.98 and
10.11 percent attracted. The fourth in the textile group said
Expectations surpassed in the quarter are a support for the previous one
a low since the end of 2017. For the
Soup makers were praised for an increased earnings outlook.
In contrast, the papers of the fashion retailer Urban Outfitters broke
after disappointing sales and
Profit development in the final quarter by 7.48 percent.

United Airlines reduced due to the spread of the
Corona virus and the associated reduced travel activity
the flight offer. The airline also announced a hiring freeze
on. The shares eased somewhat after the announcement, but then turned
up and closed 2.02 percent higher.

The Euro was priced at $ 1.1132 after the United States closed.
The European Central Bank (ECB) had the reference rate at 1.1125
(Tuesday: 1.1117) was set at $ 0.8989
(0.8995) euros. Trend-setting declines in the US bond market
ten-year government bonds down 11/32 points to 104 12/32 points. she
returned 1.036 percent./ajx/fba

— By Achim Jüngling, dpa-AFX —

 ISIN  US2605661048  US6311011026  US78378X1072

AXC0424 2020-03-04 / 22: 54

Copyright dpa-AFX Wirtschaftsnachrichten GmbH. All rights reserved. Redistribution, republication or permanent storage without the express prior consent of dpa-AFX is not permitted.

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