NEW YORK (dpa-AFX) – The record run on Wall Street is likely to continue at a moderate pace on Thursday. Three quarters of an hour before the start of trading, broker IG valued the US leading index Dow Jones Industrial 0.13 percent higher at 31,228 points. The current strong rally on the markets was triggered by the victory of Democrat Joe Biden in the US presidential election at the end of November.
Immediately after taking office, Biden began dismantling particularly controversial decisions made by his predecessor Donald Trump. For example, Biden initiated the return to the Paris climate agreement, stopped the US exit from the World Health Organization and lifted an entry ban for people from Muslim countries.
After Trump’s handling of the corona pandemic, which has been widely criticized as inadequate, the government under Biden should now take the lead in containing the virus and accelerating the vaccination campaign.
From an investor’s point of view, it is particularly important that Biden wants to support the US economy in the Corona crisis with a trillion dollar economic stimulus package. To do this, the President must first win the approval of Congress.
The focus will also be on some economic data on Thursday. The business climate in the Philadelphia region brightened unexpectedly in January.
Meanwhile the reporting season for companies is entering a new round. The United Airlines pandemic caused a high loss at the end of the year. Investor expectations were disappointed, with stocks falling 2.1 percent in pre-market US trading.
Alcoa surprised positively with its results, but the shares lost 2.4 percent before the market. The aluminum group warned of weaker business again if the sales markets did not recover.
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