NEW YORK (dpa-AFX) – 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 this scenario of a hanging game with a dragging election result and possible legal challenges. The list of winners was led by the very strong technology stocks and stocks from the healthcare sector.
The Dow Jones Industrial was recently listed 2.03 percent higher at 28 036.90 points. The Dow plus this week now adds up to around 5.8 percent, after the stock market barometer had lost around 6.5 percent the previous week. The market-wide S&P 500 gained 2.56 percent on Wednesday to 3455.46 points. The Nasdaq 100 even advanced by 4.12 percent to 11,744.30 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.
In the meantime, everything could stay the same in the politically divided Congress: While the Democrats may have defended their majority in the House of Representatives, their hopes of conquering the Senate were severely dampened. Because several Republican senators, who were considered to be shaky candidates, were able to defend their seats. This means that the future president could also encounter limits in the implementation of his political agenda – be it Trump or Biden.
The few company news in the shadow of the election crime caused significant price movements. The shares of Uber and Lyft jumped 13 and 12 percent respectively after the Californians overturned a law in a referendum that granted Uber and Lyft drivers the status of employees. The driving service brokers had announced that they would cease operations in the state, or at least limit them if it remained in force.
In the case of semiconductor manufacturers AMD and Intel, shareholders were able to look forward to price increases of 4.9 and 1.7 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 9.6 percent. The health insurer is paying a cash dividend of $ 1.25 per share. At the Dow end, however, ranked the papers of the construction machinery company Caterpillar, which sagged by more than 6 percent./edh/he
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