Equities New York Outlook: Dow Jones expected clearly in positive territory | 03/01/21

NEW YORK (dpa-AFX) – On Wall Street, investors can hope for price gains on Monday. Much like the Asian and European equity markets, the calm in the bond markets and progress towards a trillion dollar US economic aid program provided relief.

The broker IG valued the Dow Jones Industrial (Dow Jones 30 Industrial) just under an hour before the start of trading a good one percent higher at 31 254 points. For the past week, the best-known American benchmark index showed a minus of 1.8 percent on Friday, while the monthly balance for February was clearly positive with an increase of more than three percent.

After the approval of the democratically dominated House of Representatives, US President Joe Biden called on the Senate to quickly pass the stimulus package he proposed to counter the corona crisis. In the Senate, Biden’s Democrats and Republicans each have 50 seats, while Vice President Kamala Harris – who is also President of the Chamber – can cast the casting vote in the event of a stalemate.

At the pharmaceutical company Johnson & Johnson (JohnsonJohnson), investors could look forward to a pre-market price increase of almost two percent. The US Food and Drug Administration granted emergency approval for the company’s corona vaccine.

For the shares of the oil companies Chevron and Exxon Mobil, it went up thanks to rising prices for the important raw material by two and 3.7 percent respectively.

United Airlines shares even increased by more than four percent. They not only benefited from positive industry sentiment. Apparently the market also welcomed the fact that the airline reached a settlement for the settlement of fraud allegations in exchange for the payment of nearly 50 million US dollars./gl/mis

–