NEW YORK (dpa-AFX) – The hunt for supposed bargains continued to drive prices on Wall Street towards the end of the month. As on Friday, the technology stocks, which are considered to be particularly susceptible to fluctuations and sensitive to the economy, rose significantly at the beginning of the week. In line with the positive picture, the business climate in the Chicago area surprisingly brightened in January. “The overall picture for US manufacturing is still favorable, but the sector is nonetheless vulnerable to disruption from the omicron wave of the coronavirus,” wrote Ian Shepherdson, chief economist at Pantheon Macroeconomics on Monday.
The tech-heavy select index Nasdaq 100 jumped 3.29 percent to 14,930.05 points. The S&P 500 index, which covers the broad market, rose 1.89 percent to 4515.55 points.
The leading index Dow Jones Industrial went up 1.17 points to 35,131.86 points. On a monthly basis, however, there is a minus of 3.32 percent.
The situation on the US technology exchange remains tense, said capital market strategist Jürgen Molnar from the trading house Robomarkets. “The focus of investors in the coming weeks should continue to be inflation.” The pace of the US Federal Reserve’s monetary policy change depends on it./la/he
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