NEW YORK (awp international) – The recovery rally on the US stock market continued on Monday. However, the standard value indices only turned positive shortly before the end of trading, while the Nasdaq indices, which are predominantly stocked with technology stocks, have been increasing since the start of trading. The Dow Jones Industrial rose to just under 35,000 points and is therefore back at the level of mid-February.
Investors are weighing economic risks from inflation and tightening monetary policy against the prospects of continued economic growth, the market said. The war in Ukraine also remains in focus. In Istanbul, representatives of Russia and Ukraine want to talk again about a ceasefire on Tuesday. At the same time, Ukrainian President Volodymyr Zelenskyy wants to “thoroughly” examine Ukraine’s neutrality, which Russia has demanded.
The best-known Wall Street index, the Dow, only turned positive in the last 30 minutes and made a significant jump at the close of the market. It finally closed with an increase of 0.27 percent to 34,955.89 points, just below the daily high reached just before. The course of the market-wide S&P 500, which had previously fluctuated between minimal gains and losses, was similar. He ended trading at the daily high with plus 0.71 percent to 4575.52 points. The tech-heavy Nasdaq 100 extended gains to close 1.58 percent higher at 14,987.40 points.
On the company side, Tesla shares were among the top values in the Nasdaq selection index with an increase of 8.0 percent. They continued their recent recovery rally, benefiting from the electric car maker’s announcement that it would seek shareholder approval for another stock split. Tesla shares are up nearly 45 percent since mid-March.
In addition, a takeover project attracted attention: HP Inc wants to take over the headset manufacturer Plantronics for 3.3 billion dollars or 40 US dollars per share. The transaction is to be settled exclusively in cash. Plantronics shares shot up 52.6 percent to $39.99. The shares of the laptop and printer manufacturer HP, on the other hand, fell by 2.7 percent.
Altria shares fell 3.0 percent, while Philip Morris lost 1.5 percent, according to a report in the Wall Street Journal on plans by US retailer Walmart. Walmart will no longer sell cigarettes in some stores in states such as California, Florida, New Mexico and Arkansas, citing people who have been informed. Walmart does not want to give up cigarette sales entirely.
Shares in oil companies were also conspicuous. They suffered from the oil prices, which are currently falling again significantly. At the end of the Dow, Chevron shares fell 1.8 percent. ExxonMobil fell 2.8 percent in the S&P 100 and ConocoPhillips fell 3.7 percent.
The euro cost 1.0988 dollars at the US market close. The European Central Bank set the reference rate in Frankfurt in the afternoon at 1.0966 (Friday: 1.1002) dollars. The dollar thus cost 0.9119 (0.9089) euros.
On the US bond market, the futures contract for ten-year Treasuries (T-Note Future) rose by 0.22 percent to 121.81 points. The yield on ten-year government bonds fell to 2.46 percent./ck/he
— By Claudia Müller, dpa-AFX —
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