NEW YORK (awp international) – Despite the still completely unclear outcome of the US presidential election, the US stock markets continued their clear recovery course on Wednesday. In the run-up to this, stockbrokers had feared the scenario of a hanging game with a dragging election result and possible legal challenges. The list of winners was led by technology stocks and stocks from the healthcare sector.
The Dow Jones Industrial was recently listed 2.23 percent higher at 28 092.24 points. The Dow plus this week now adds up to around 6 percent, with which the leading index almost made up for its 6.5 percent loss from the previous week. The market-wide S&P 500 gained 2.84 percent on Wednesday to 3464.83 points. The Nasdaq 100 even advanced 4.51 percent to 11,788.35 points.
In the duel between Republican President Donald Trump and his Democratic challenger Joe Biden, no decision has yet been made. The fact that Trump declared himself the winner despite the ongoing vote count and threatened to go to the US Supreme Court to stop another vote count because of the delay in the election results also caused irritation.
The few company news in the shadow of the election crime caused significant price movements. The shares of Uber and Lyft jumped 11.8 and 8.7 percent respectively after the Californians overturned a law in a referendum that granted Uber and Lyft drivers employee status. The driving service brokers had announced that they would cease operations in the state, or at least limit them if it remained in force.
But the bird was shot by the shares of Biogen. Positive statements from FDA circles about the effects of an Alzheimer’s drug catapulted stocks 44 percent to their highest level since early February. While two studies with the active ingredient aducanumab had yielded contradicting results, FDA staff said on Wednesday that the effect in one study was “robust and extremely convincing”. This was taken as an indication that the authority could approve the agent.
In the case of semiconductor manufacturers AMD and Intel, shareholders were able to look forward to share price increases of 6.4 and 2.4 percent, respectively, after their South Korean industry colleague Hynix reported a profit jump for the third quarter. A new buy recommendation from the US investment bank Goldman Sachs also supported AMD.
In the Dow, UnitedHealth Group stocks were the front runner, gaining 11.3 percent. The health insurer is paying a cash dividend of $ 1.25 per share. At the end of the Dow, on the other hand, the papers of the construction machinery company Caterpillar ranked, which sagged by 5.9 percent./edh/he