NEW YORK (dpa-AFX) – Increased chances of new economic aid to cushion the corona crisis caused prices on the US stock market to rise further on Friday. According to his economic advisor Larry Kudlow, US President Donald Trump has now spoken out in favor of a revised economic stimulus package. This will be relatively broad, it said. The Dow Jones Industrial went from trading with plus 0.57 percent to 28 586.90 points. The US leading index rose by 3.3 percent on a weekly basis.
The selling pressure around the area of 28,200 and 28,350 points is over, for the first time in more than a month the Dow is again significantly above this level, stated the chart technology experts from Index Radar. This significantly increased the chances of a continuation of the short-term upward trend.
The broad S&P 500 gained 0.88 percent on Friday to 3477.13 points. Things looked even better for the Nasdaq 100 with plus 1.51 percent to 11,725.85 points, the prospect of a billion-dollar takeover in the chip industry acted as a price driver here./ajx/he
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