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New York equities outlook: recovery

NEW YORK (dpa-AFX) – On Monday, investors can hope for some recovery on the recently battered US stock exchanges. The broker IG assessed the Dow Jones Industrial three quarters of an hour before the start of trading, 0.89 percent higher at 35 208 points and the Nasdaq 100 1.20 percent up at 16,218 points. On Friday, both the leading index and the technology stocks index fell by more than two percent after the first reports about the new Omikron coronavirus variant had made the rounds.

There are increasing reports of Omicron infections worldwide. The World Health Organization (WHO) classified the variant, which carries an unusually large number of changes in the genome, as “worrying”. However, experts from South Africa, where the first cases became public, have so far noted comparatively mild symptoms in patients who have contracted it.

In addition, the US biotech company Moderna announced on Sunday that it could produce a large-scale vaccine specially tailored for Omikron early next year. Mainz competitor Biontech also announced that in addition to ongoing laboratory tests to examine the new variant, it was also working on the development of an adapted vaccine – as a preventative measure in the event that it might become necessary.

Accordingly, the Moderna shares are likely to continue their recovery rally: After the more than 20 percent increase on Friday, they rose by a further eleven percent to just under 366 US dollars. The situation was similar with the Biontech stocks listed in New York, which rose by a further six and a half percent to over $ 370 after the most recent 14 percent increase. However, both titles still have a long way to go to their record highs from August just below 500 and 464 dollars respectively.

The owners of oil stocks also had reason to be happy: After the weak end of the week, Chevron and Exxon Mobil rose in the pre-trading hours by just under and over two percent, respectively, which should follow the partial recovery in oil prices. Commodities expert Daniel Hynes of the Australia & New Zealand Banking Group described their latest slump as a “complete overreaction” of the market.

The aviation stocks, which came under heavy pressure on Friday, are also showing signs of easing: the stocks of American Airlines, Delta Air Lines and United Airlines increased by up to more than three percent.

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