New York Stocks End: Dow recovers 26,000 points – 7/6/20

Led by a rally in technology stocks, US equity markets got off to a strong start to the week after the long holiday weekend. Clearly positive impulses …

NEW YORK (dpa-AFX) – Led by a price rally in technology stocks, the US stock markets got off to a strong start to the week after the long holiday weekend. Clearly positive impulses came from the Chinese stock exchanges. In China, the leading index CSI 300 jumped around six percent to its highest level in five years.

The Dow Jones Industrial (Dow Jones 30 Industrial) closed 1.78 percent higher at 26 287.03 points and thus almost at its daily high. In addition, the leading index ended above the 26,000 mark for the first time in almost two weeks. The broader S&P 500 rose 1.59 percent to 3,179.72 points. For the technology-heavy NASDAQ 100 it went up 2.53 percent to 10,604.06 points. On Friday, the US stock exchanges were closed because of the independence day celebrations on Saturday.

The sentiment of US service providers – as measured by the ISM purchasing managers index – brightened more than expected in June and is now signaling a revival in economic activity. In April, the purchasing managers index fell to its lowest level since the financial crisis in 2009 due to the Corona crisis. The ISM index is considered to be a reliable leading indicator of economic activity in the USA.

Among the individual stocks, the soaring of some heavily weighted US technology stocks continued with further record highs. Amazon’s papers topped the $ 3,000 mark for the first time and hit a record high of $ 3,059.88. Ultimately, they won around 5.8 percent.

Apple’s shares climbed to a historic high of $ 375.78 and ended up around 2.7 percent.

Microsoft’s shares rose to a record high of $ 211.13, the first time they were worth more than $ 1.6 trillion. For comparison: All 30 Dax values ​​together come to a market value of around 1.4 trillion dollars. The software company’s titles closed around 2.2 percent more tightly.

Netflix’s papers hit the $ 500 mark and hit a high of $ 499.50. They went out of trading with a profit of around 3.6 percent.

Tesla’s shares also posted another record high at $ 1,377.79. Ultimately, the electric car manufacturer’s title won around 13.5 percent. Previously, some analyst firms had raised their price targets, in some cases significantly.

Uber’s shares rose 6.0 percent. The online passenger transportation company is taking over the food delivery company Postmates for $ 2.65 billion. Uber wants around 84 million to finance it new shares output.

In the US business, the euro stayed above the $ 1.13 mark and was most recently quoted at $ 1.1307. The European Central Bank (ECB) had set the reference rate at 1.1325 US dollars. The dollar had thus cost 0.8830 euros. Approximately ten-year US Treasuries lost 4/32 points to 90 14/32 points and returned 0.68 percent./edh/fba

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