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ROUNDUP / New York Stocks: Buying mood continues for the fifth day in a row

NEW YORK (dpa-AFX) – The buying mood of investors on New York’s Wall Street continued at the end of the week. Friday is the fifth consecutive day of profits for the Dow Jones Industrial. According to market observers, however, the positive impulses did not come from the US labor market report for January, as it disappointed in parts.

Rather, above all, hope for a general sustained economic recovery, especially in view of the ongoing vaccination campaigns and the expected Corona aid package, is driving hope. Accordingly, the stock exchanges are “currently quite immune to negative news,” as Portfolio Manager Thomas Altmann from QC Partners said.

In early trading, the Dow rose 0.43 percent to 31,189.26 points. This means that the most important Wall Street index is not only close to its record high of 31,272 points, which it reached at the end of January. His weekly plus is also a little more than 4 percent.

For the market-wide S&P 500, it rose 0.35 percent to 3885.11 points on Friday. The technology-heavy Nasdaq 100 turned into the red, however, and fell 0.14 percent to 13,541.85 points. Both indices had set new records right after the stock market launch.

Regarding the US labor market, Altmann wrote: “The good news is that the US labor market is growing again. The bad news is that it is growing very slowly.” All in all, the report shows that the current Covid-19 wave is not a tragedy for the US economy, but that it is still costing considerable growth.

According to the US Department of Labor, the monthly unemployment rate fell 0.4 percentage points to 6.3 percent in January. Analysts, however, had expected an unchanged rate. However, the increase in employment was disappointing: instead of an expected increase of 105,000 jobs, employment outside of agriculture only increased by 49,000.

Among the individual stocks at the top of the Dow, Johnson & Johnson shares rose 1.6 percent. The pharmaceutical and consumer goods company applied to the US FDA for emergency approval for its corona vaccine.

Ford’s shares rose 1.3 percent. The second largest US automaker was deeply in the red at the end of the year, but wants to significantly increase investments in electric vehicles. In addition, Ford posted earnings per share on an adjusted basis rather than an expected loss.

The Snapchat photo app gained 16 million daily users in the past quarter. At the same time, however, the forecast for the current quarter was disappointing. The shares of the operating company Snap fluctuated between gains and losses and recently rose by 1.2 percent.

For the papers of T-Mobile US it went down by 4.0 percent. The takeover of smaller rival Sprint had driven the growth of the US subsidiary of Deutsche Telekom in the past year, but here too the forecast was disappointing, with a view to profit.

The shares of Columbia Sportswear rose sharply with a plus of 12.6 percent. The outdoor outfitter impressed with surprisingly strong quarterly figures. It went even higher for the shares in Magnite, which jumped 20.5 percent. The technology company, which specializes in advertising services, wants to take over RTL’s advertising subsidiary SpotX. / Ck / he

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