Börse Express – ROUNDUP / New York Stocks: Recovery from weak previous week

NEW YORK (dpa-AFX) – Der Dow Jones Industrial recovered a good bit on Monday from its loss-making week. The US benchmark index traded 1.47 percent higher at 33,777.82 points in early trading. The S&P 500, which represents the broad market rose by 1.03 percent to 4209.37 points. The tech-heavy Nasdaq 100 gained 0.13 percent to 14,067.56 points and remained within sight of its latest record high of 14,205 points.

James Bullard, the president of the regional US Federal Reserve (Fed) in St. Louis, brought a rate hike into play on Friday for next year. In addition to the great decline on the futures exchanges, this had put the prices under pressure.

Investors’ eyes are now on a hearing with Fed chief Jerome Powell before parts of the US Congress this Tuesday. It is about the central bank’s reaction to the corona pandemic. Powell’s remarks are likely to be closely tapped for clues about future monetary policy.

That Monday, construction machinery maker Caterpillar’s shares climbed with a plus of 2.7 percent to the top of the Dow. The Apple papers opposed this only 0.4 percent and so lagged behind the market. The German Federal Cartel Office is now using its new options for action against large digital platforms for investigations against the US computer company. “We will now check whether Apple has built a digital ecosystem around the iPhone with the proprietary iOS operating system across several markets,” announced the Cartel Office President Andreas Mundt.

The recent slide in the price of Bitcoin and other crypto currencies has meanwhile also left its mark on Nvidia’s shares
and AMD , which lost 3.7 and 2.8 percent respectively. Both companies make processors for graphics cards that are used not only for gaming, but also for mining cryptocurrencies.

China is currently tightening its course against private-sector cryptocurrencies. Domestic banks and the giant fintech company Ant Group have been asked to stop offering crypto trading services. Many digital systems reacted to the news with significant price losses. In the course of this, the prices for graphics cards and thus the prices of the manufacturers of graphics chips came under pressure./la/eas

 ISIN  US2605661048  US6311011026  US78378X1072

AXC0237 2021-06-21/16:51

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