Börse Express – New York Stocks: Investors take hold of them again after the price slide

After a three-day price slide, the US stock exchanges began to recover on Wednesday. Technology stocks in particular rose again after the Nasdaq 100 selection index, which they coined had recently lost the profits of the past four weeks at a rapid pace. On Wednesday, it advanced 3.09 percent to 11,409.88 points two hours before the close of trading.

Also the Dow Jones Industrial with the standard values ​​represented there, it was able to recover significantly from its one-month low. The Wall Street barometer expanded its plus with 28,151.33 points to 2.37 percent most recently. For the market-wide S&P 500 it went up by 2.52 percent to 3415.77 points.

Stockbrokers wondered whether the market would bottom out with the recovery or whether the correction could continue in the face of high stock valuations. According to the capital market strategist Tilmann Galler from JPMorgan Asset Management, the ratio of price to book value in growth stocks, which mainly include tech stocks, has recently risen in areas during the dot-com bubble.

According to Craig Erlam from broker Oanda, investors are currently faced with a dilemma when assessing stock valuations: “The world will never be the same as it was in February, but it will not continue as it was last,” said the expert. The difference between these two realities is great. That makes it harder than ever to measure the value of companies.

Technology stocks in the Dow led the rebound after the recent sell-off. With Apple and Microsoft
two of them were at the top of the leading index with price gains of up to five percent. On the Nasdaq, there were significant gains in chip values ​​and the recently slumped Tesla Shares. After a price slide of more than a third in the past few days, the latter rose by 6.4 percent.

When looking for a vaccine against the coronavirus, there was a setback for the pharmaceutical company Astrazeneca , who temporarily stopped his tests due to health problems of a subject. The stocks of other vaccine researchers were still in demand, including increases of up to 2.4 percent at Pfizer
and Biontech showed. The two partners announced negotiations with the EU Commission on a supply contract for their vaccine.

For the shareholders of the Tiffany jewelry chain however, there was no good news. The shares sagged by seven percent. The takeover by the French luxury group LVMH
threatens to burst. He sees himself “from today’s point of view not in a position to carry out the acquisition as planned”. Tiffany now wants to enforce the takeover by lawsuit.

Investors at Slack Technologies had to face an even more violent price slide of 16 percent accept. The manufacturer of communication software disappointed with its sales trend, which, according to retailers, shows the dependency on small and medium-sized companies that are particularly affected by the Corona crisis.

The shares of airlines were also under general pressure, as was the case with travel figures in general in Europe. For United Airlines papers ,
American Airlines and Delta Air Lines
it went downhill between 2.8 and 4.8 percent./tih/jha/

 ISIN  US2605661048  US6311011026  US78378X1072

AXC0344 2020-09-09/20:06

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