rose by almost 1 percent.
The S&P 500 advanced 0.43 percent to 4528.79 points. The leading index Dow Jones Industrial on the other hand, the bottom line was little movement and closed 0.16 percent in the red with 35 399.84 points.
Thanks to progress on the job market and the inflation target, Fed chairman Jerome Powell announced on Friday a reduction in purchases of US government bonds to support the economy this year. However, he also referred to the delta variant of the corona virus, which is still rampant, and emphasized that the start of the reduction in the bond purchase program is not an immediate sign of an imminent rate hike. Higher interest rates would make investments such as bonds appear more attractive than stocks.
The Dow also showed that investors were particularly interested in the tech stocks that are sensitive to the economy at the beginning of the week. That’s how Microsoft counted with plus 1.3 percent and Apple with plus 3.0 percent to the favorites in the leading index. The shares of the iPhone manufacturer even reached a record high.
With a view to the other individual stocks, the takeover carousel turned vigorously on Monday. So Adtran’s shares plummeted by 16.5 percent. The fiber optic specialist wants the German telecommunications equipment supplier Adva Optical to buy. Its shares soared in Xetra trading by more than 10 percent and were thus by far the favorite in the SDax small cap index .
The papers of the manufacturer of hospital beds, operating tables and patient monitoring systems Hill-Rom had jumped to an all-time high in the course of trading and in the end rose by almost ten percent to 145.78 US dollars after the pharmaceutical and medical technology group Baxter International according to the “Wall Street Journal” had raised its purchase offer to $ 150 per share. In July, according to the report, Baxter had still offered $ 144 per share and was thus thrown out at Hill-Rom. The Baxter papers went up nearly three percent.
Meanwhile, the shares listed in New York in the Chinese online company Netease fell by more than three percent and were thus the bottom of the Nasdaq 100. They suffered from the fact that the Chinese leadership tightened the rules for young users of online games.
At the top of the index, PayPal shares won 3.6 percent. According to a media report, the online payment service also wants to benefit from the boom in stock trading by small investors. After PayPal customers have been able to trade cryptocurrencies since last year, the company is now looking for ways to enable US customers to trade stocks, as the US business broadcaster “CNBC” reported, citing people familiar with the matter.
The Euro last traded at $ 1.1800. The European Central Bank had previously set the reference rate at 1.1801 (Friday: 1.1761) dollars. The dollar cost 0.8474 (0.8503) euros.
The futures contract for ten-year Treasuries (T-Note-Future) rose by 0.22 percent to 134.19 points. The return on ten-year government bonds was most recently 1.28 percent./la/mis
By Lutz Alexander, dpa-AFX
Source: dpa-AFX
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