ROUNDUP / New York Stocks End: Good start to the month – S&P and Nasdaq records | 12/01/20

NEW YORK (dpa-AFX) – Economic hope and further positive vaccine news gave the Dow Jones Industrial (Dow Jones 30 Industrial) a positive start to December on Tuesday. Initially, the leading index even managed to exceed the 30,000 points it had only reached the previous week, but it was unable to maintain this level. In the end it was still enough for an increase of 0.63 percent to 29,823.92 points.

On Tuesday, sentiment data from the Chinese industry, which signaled a strong recovery in November, had a positive effect on the world stock markets. According to the experts at DekaBank, there are still no signs of a noticeable slowdown in growth in the USA either; the ISM index painted a robust picture despite a decline. In addition, good news from vaccine developers supported the courses internationally – with further approval applications in both the EU and the USA.

Other important indices fared significantly better on Tuesday, with them even reaching record highs. The market-wide S&P 500 ultimately rose 1.13 percent to 3662.45 points, while the technology-heavy selection index NASDAQ 100 advanced 1.52 percent to 12,455.33 points.

On the vaccine front, BioNTech has now also applied for approval in the EU. In addition, competitor Moderna has now submitted its application in both the EU and the USA. Both papers were initially on the hunt for records, but then profit-taking began. In the end, Moderna lost 7.7 percent and Biontech 8.2 percent.

At Biontech, which had more than quadrupled since March, the fact that the experts at Bank of America gave up their previous buy recommendation had a negative effect after the strong run. As analyst Tazeen Ahmad wrote, high-quality study data and pioneer status in the race for a vaccine have long been priced into the stock. Shares of the Biontech partner Pfizer rose regardless of this by 2.9 percent.

After taking profits on the previous day, Tesla shares advanced by three percent on the Nasdaq and immediately returned to the $ 600 mark last reached. On December 21, the papers of the electric car manufacturer are included in the prestigious S&P 500 index. Some in the market were surprised that this should happen immediately with full weighting.

The mood on the technology-heavy Nasdaq stock exchange was generally good in the chip sector, led by Micron Technology, among others. The shares of the memory specialist climbed thanks to a raised outlook for the first fiscal quarter by 4.7 percent. They reached their highest level since the turn of the millennium.

There was no news in the regular trade at Slack, where the interest of the software company Salesforce has been speculated for days. The Slack shares set a record with plus 2.2 percent, while the shares of Salesforce in the Dow remained at the bottom with 1.8 percent. The takeover plans were confirmed after the trading day.

The titles of the video conferencing provider Zoom (Zoom Video Communications) recorded a significant price slide after the presentation of business figures, they lost a good 15 percent. Zoom continued to grow vigorously in the last quarter, but meanwhile the success-used investors apparently no longer grows fast enough.

Blackberry stocks experienced a sudden renaissance. A cooperation with Amazon in the development of a cloud solution for car sensors gave the share a price jump of almost 20 percent, at the top by more than half.

The increasing willingness of investors to take risks helped the euro to its highest level since May 2018. Most recently, 1.2072 dollars were paid for the common currency. The European Central Bank (ECB) had previously set the reference rate even lower at 1.1968 (Monday: 1.1980) dollars. The dollar cost 0.8356 (0.8347) euros.

There were losses on the US bond market, the futures contract for ten-year Treasuries fell 0.48 percent to 137.52 points. In return, the yield on the ten-year bond rose to 0.93 percent./tih/he

— By Timo Hausdorf, dpa-AFX —

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