NEW YORK (dpa-AFX) – After taking a breather from the previous day, investors were back on stocks on the penultimate trading day of the year on Wall Street. The price gains were moderate, however, there were no new record reports for the stock market barometers Dow, S&P 500 and Nasdaq 100 in the middle of the week. The Dow Jones Industrial (Dow Jones 30 Industrial) advanced by 0.24 percent to 30,409.56 points at the closing bell.
Thanks to corona vaccinations that have started worldwide, investors in the USA are increasingly relying on a radical economic recovery for 2021, also supported by the new US government. On Wednesday, another manufacturer, the British pharmaceutical giant Astrazeneca, received approval for a vaccine in Great Britain. Argentina also approved the British vaccine – other countries should follow soon.
The S&P 500, which tracks the broad US stock market, closed 0.13 percent higher to 3732.04 points. The NASDAQ 100, which is dominated by technology stocks, stepped on the spot with 12845.36 points.
Analyst Edward Moya from trading house Oanda explained the price gains despite the high number of infections and many deaths in the USA, also with the upcoming change of government: “With the devastating news about Covid-19, expectations are rising on Wall Street that the new administration under President Biden will be in first hundred days of government will give a strong impetus ”
With a view to the end of the year, the owners of US stocks have little reason to complain: thanks to a never-before-seen recovery rally after the likewise historic price slump at the beginning of the corona pandemic in spring, the Dow is currently up 6.6 Percent to book. With the market-wide S&P 500 it is almost 16 percent and with the Nasdaq 100 even 47 percent.
Caterpillar papers were among the biggest winners in the leading Dow index on Wednesday. They gained 1.9 percent to a good 180 US dollars. The US investment house Baird chose the construction equipment manufacturer’s shares as the favorites for the coming year and raised its target price from 206 to 220 US dollars.
The shares of the entertainment company Walt Disney and the credit card provider Visa reached new all-time highs in the Dow. Walt Disney rose 2.2 percent and Visa 1.9 percent at the top of the Dow.
The shares of the manufacturers of corona vaccines meanwhile showed pronounced weakness: The shares of Mainz BioNTech listed in New York lost 4.9 percent and the shares of Tübingen Curevac 3.7 percent. The papers of the US vaccine producer Moderna lost 2.9 percent. All three stocks thus extended the losses of the past few weeks. Before that, however, they had risen sharply.
The euro rose above $ 1.23 for the first time since April 2018 and was most recently trading just below this mark at $ 1.2296. The European Central Bank (ECB) had set the reference rate at 1.2281 (Tuesday: 1.2259) dollars. The dollar had thus cost 0.8143 (0.8157) euros.
Hardly anything happened on the bond market, the futures contract for ten-year Treasuries (T-Note Future) rose moderately by 0.06 percent to 137.96 points. The yield on the ten-year bond fell slightly to 0.925 percent./bek/fba
— By Benjamin Krieger, dpa-AFX —
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