New York stocks: Dow close to 36,000 points – Nasdaq and S&P with records | 11/02/21

NEW YORK (awp international) – The record run of many indices on Wall Street continued at a moderate pace on Tuesday. Strong quarterly reports were cited as a positive argument, while waiting for the Fed’s interest rate decision did not make the willingness to take risks too great.

The technology-heavy Nasdaq 100, which rose by 0.36 percent to 15,962.85 points, and the broad-based S&P 500, which rose by 0.24 percent to 4624.80 points, achieved new records. The Dow Jones Industrial was the exception, however, with an increase of only 0.08 percent to 35,941.50 points, it initially failed to achieve another record. He was still waiting for the 36,000 point mark, which he briefly jumped the day before.

“There is now consensus that the Fed will announce its entry into the exit from the ultra-loose monetary policy,” said portfolio manager Thomas Altmann of QC Partners. In the middle of the week, the stock exchanges expected a concrete timetable for the reduction in monthly bond purchases, which should begin this year.

Under Armor was particularly notable among the companies with strong numbers. Once again, the sporting goods manufacturer’s increased annual targets caused the share price to jump by almost 17 percent. It is the third forecast increase this year. Among other things, the company benefited from higher prices.

There were also results from Dupont, which went hand in hand with lowered annual targets due to the current semiconductor shortage in the automotive industry. But the focus was even more on a resolved realignment of the chemical company – with the multi-billion dollar purchase of the electronics materials specialist Rogers Corporation. The Dupont price benefited from this decision with an increase of four percent, the Rogers shares shot up by a good 30 percent.

Meanwhile, Tesla founder and boss Elon Musk informed on Twitter that a major order recently celebrated on the stock exchange by the car rental company Hertz has not yet been signed. He caused confusion because, on the other hand, a Hertz spokesman said the delivery of the first electric vehicles had already started. After a record run of over the 1200 dollar mark, the Tesla price jumped back and forth in the red. Most recently, the shares lost 0.8 percent.

Meanwhile, the shares of Rockwell Automation posted clear gains of 5.7 percent. Berenberg expert Philip Buller judged that the Siemens competitor’s fourth fiscal quarter was weak. However, this is overlaid by the company’s very optimistic outlook for the new financial year.

There was also good news from Pfizer. Driven by sales of the marketed Covid-19 vaccine, the pharmaceutical company’s quarterly report was characterized by strong earnings growth. Pfizer shares rose 2.4 percent. The shares of vaccine partner Biontech also benefited from this with similarly large profits./tih/he



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