NEW YORK (awp international) – The foreseeable end of a week-long stalemate for the presidency in the USA should go down well on Wall Street on Tuesday. Around an hour before the start of trading on Thursday, the broker IG estimated the US leading index Dow Jones Industrial a good one percent higher to 29,920 points. The leading index just barely missed the jump over the hurdle of 30,000 points. This round brand continues to be the focal point of the stock market.
The transition between incumbent Donald Trump’s administration and President-elect Joe Biden begins. Trump announced on Twitter that he had instructed the authorities and his employees to cooperate with Biden. Shortly beforehand, the responsible authority had classified GSA Biden as the obvious winner.
This development “gave the market a nudge in the right direction,” wrote analyst Craig Erlam of the Oanda trading company. However, Trump’s long clinging to the office of president did not ultimately prove to be as stressful for the markets as previously feared. Now the question arises whether, after the decision in this matter and in view of the hopeful news about corona vaccines, there are still price drivers for a rally at the end of the year, “or whether investors prefer to clean up their portfolios and take profits off the table”, so the market expert.
The shares of Tesla have risen to another record high in pre-market trading. They advanced by almost another 5 percent after climbing a record high the day before. The manufacturer of electric vehicles is now worth well over 500 billion US dollars on the stock exchange.
Airline stocks are likely to outperform. American Airlines, Delta Air Lines and United Airlines rose in price between three and almost six percent before the trading day ./bek/fba
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