NEW YORK (awp international) – Record mood on Wall Street: Thanks to Donald Trump’s growing insight into his election defeat, the Dow Jones Industrial passed the 30,000 point mark for the first time on Tuesday. In the course of trading, the most famous American stock index even rose to over 30,100 points. At the final bell there was an increase of 1.54 percent to 30 046.24 meters.
The market-wide S&P 500 ultimately gained 1.62 percent to 3635.41 points and thus approached its previous record of 3645 points, which was barely two weeks old. The Nasdaq 100 technology stocks index, which was flagging the day before, achieved a price increase of 1.46 percent to 12 079.81 points.
The transition between incumbent Trump’s administration and President-elect Joe Biden begins. Trump announced on Twitter that he had instructed the authorities and his employees to cooperate with Biden. Shortly beforehand, the responsible authority had classified GSA Biden as the obvious winner. This marks the end of a week-long stalemate for the leadership of the United States.
This development “gave the market a nudge in the right direction,” wrote analyst Craig Erlam of the Oanda trading company. However, Trump’s long clinging to the office of president did not ultimately prove to be as stressful for the markets as previously feared. Now the question arises whether, after the decision in this matter and in view of the hopeful news about corona vaccines, there are still price drivers for a rally at the end of the year “or whether investors prefer to clean up their portfolios and take profits off the table,” he said Market expert.
Meanwhile, Tesla shares continued their record run: They rose almost six and a half percent to $ 555.38. This means that the manufacturer of electric vehicles is now worth over 500 billion dollars on the stock exchange for the first time. Company boss and major shareholder Elon Musk was particularly pleased about this: he overtook Microsoft co-founder Bill Gates in the billionaire ranking “Bloomberg Billionaires Index” and is now the second richest person in the world.
Airlines’ shares continued to benefit from the hope that corona vaccines would soon be available: American Airlines, Delta Air Lines and United Airlines gained up to almost ten percent.
In contrast, the vaccine developers were left breathless after the latest price rally, despite some more good news. Moderna’s papers lost almost two and a half percent, although the US company has negotiated a framework agreement with the EU for the delivery of up to 160 million doses of its vaccine.
The EU Commission now has contracts with the manufacturers of all vaccines, which are given the best chance of rapid approval in the coming weeks. In addition to Moderna, these include the Mainz-based company Biontech with its US partner Pfizer and its British-Swedish industry colleague Astrazeneca, which cooperates with the University of Oxford. Promising test data had become known in the past few days for all three vaccines. Accordingly, all three vaccines are effective and well tolerated. The New York-listed shares of Biontech lost nearly four and a half percent on Tuesday, while Pfizer was moderately up.
Aside from the topic of Corona, there was price-moving company news. Boeing’s titles gained more than three percent after it became known that, following the re-registration of the unfortunate 737 Max in the USA, an end to the take-off ban in Europe was also imminent. The European aviation regulator EASA announced that the plan is to have the aircraft take off again in a few weeks.
The rising oil prices reached their highest level since March, which also gave the shares of the industry companies a boost: Chevron gained around five percent at the top of the Dow, while Exxon Mobil, which is no longer listed in the leading index, rose by over six and a half percent.
The shareholders of Best Buy meanwhile had to cope with a price loss of almost seven percent after the last good run. The electronics company once again presented surprisingly strong quarterly figures, but continues to shy away from making an annual forecast.
After another volatile trade, the euro was ultimately dominated by the buyers: In New York trading, the common currency last cost 1.1889 US dollars. The European Central Bank (ECB) had set the reference rate at 1.1865 (Monday: 1.1901) dollars and the dollar cost 0.8428 (0.8403) euros. US Treasuries remained under pressure: The futures contract for ten-year Treasuries (T-Note-Future) fell by 0.06 percent to 138.26 points. The yield on the ten-year bond was 0.88 percent./gl/he
— By Gerold Löhle, dpa-AFX —