Home » News » New York Stocks: Moderate gains after a weak start to the week | 01/12/21

New York Stocks: Moderate gains after a weak start to the week | 01/12/21

NEW YORK (dpa-AFX) – Wall Street presented itself a bit disoriented after the weak start to the week on Tuesday. The prices of the most important indices fluctuated around their last closing levels. In the end the buyers predominated again. However, given the approaching reporting season for US companies and already high valuations, investors’ risk tolerance was limited. The hope for billions in economic aid from the designated US President Joe Biden and a further relaxed monetary policy of the central bank is offset by the ongoing corona pandemic.

The leading index Dow Jones Industrial (Dow Jones 30 Industrial) rose 0.22 percent to 31,075.64 points. For the market-wide S&P 500, it rose 0.12 percent to 3804.11 points. The technology index NASDAQ 100, which was shaken the day before, gained 0.05 percent to 12,909.50 points.

Among the individual values, Tesla stood out with a plus of over five and a half percent on one of the top Nasdaq 100 places. The shares of the electric car manufacturer largely made up for yesterday’s setback and approached the previous record high again.

At Goldman Sachs, thanks to a price gain of almost two and a half percent, it was already enough for another record. The stocks, like the stocks of other banks, benefited from the sell-off in US government bonds with long maturities. The resulting increasing spread between short-term and long-term interest rates benefits the lending business of the financial institutions.

Uber (Uber) paper rose more than eight percent and was also more expensive than ever before, despite the fact that Softbank’s Vision Fund had announced that it had sold roughly $ 2 billion worth of shares in the driver service operator to have. According to a filing with the Securities and Exchange Commission (SEC), Softbank still holds around 184 million Uber papers, which are worth almost eleven billion dollars at the current price.

At Zoom (Zoom Video Communications), despite the announced capital increase, it was enough for a price increase of almost three percent. The video conferencing service plans to replenish its coffers with a stock placement worth at least $ 1.5 billion. The timing is not particularly good for Zoom: The share price is currently around 40 percent below its high in mid-October.

Walmart (Walmart) meanwhile entered into a partnership with the financial investor Ribbit Capital to found a fintech startup. The share certificates of the trading group rose by over one and a half percent./gl/he

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