New York shares: desire to buy is not diminishing – records except for the Dow – DPA announcement from 01/08/2021

NEW YORK (dpa-AFX) – The desire to buy on the New York stock market remains noticeable even before the weekend. Only the Dow Jones Industrial initially failed to create a record in early trading, at last it was only just 0.10 percent up at 31,071.61 points. For the first week of the year 2021, in which it recorded over 31,000 points for the first time, the Dow is heading for a gain of 1.5 percent.

Other indices fared better: the market-wide S&P 500 rose 0.47 percent to 3821.73 points and the technology-heavy Nasdaq 100 even rose 0.92 percent to 13 058.105 points. Driven, among other things, by strong chip values, it made it over the 13,000 mark for the first time.

After the recent political decisions in favor of the US Democrats, led by President-elect Joe Biden, investors were hoping for a somewhat calmer and more stable political environment, said analyst Neil Wilson of Markets.com. They rely on an expansion of economic aid and ongoing support from the central banks.

This hope was underpinned by disappointing job market data for December. In view of this, the US Federal Reserve should see its ultra-expansionary monetary policy confirmed, wrote the Helaba experts. The flood of money from central banks is one of the main drivers of the stock market rally. / Tih / he

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