NEW YORK (dpa-AFX) – New records await investors on Wall Street at the start of the last week of trading of the year – thanks to Donald Trump’s signature on a new corona stimulus package. The agreement on a Brexit trade pact between Great Britain and the EU also favored risk-taking on the market.
The broker IG valued the Dow Jones Industrial on Monday over an hour before the stock market launch 0.56 percent higher at 30,369 points. This would mean that the best-known American stock index would again reach a high – the previous high of 30,343 points is just ten days old. The market-wide S&P 500 and the technology-heavy Nasdaq 100 could also reach new highs.
On the weekend, US President Trump gave up his opposition to a corona economic stimulus package worth around 900 billion US dollars passed by Congress with a bipartisan majority. In doing so, he also released part of the federal government’s budget – otherwise there would have been a so-called “shutdown” on Tuesday, i.e. an at least partial standstill in the authorities and government business.
Company news was in short supply on Monday. Alibaba’s shares listed in New York fell 1.6 percent early on the market after they had already slumped by more than 13 percent in the shortened session on Christmas Eve. The internet giant is under increasing pressure from the Chinese competition watchdog.
The Chinese central bank asked the company Ant Group of investor Jack Ma to concentrate on its original core business again. The financial company should “clean up” its business with lending, insurance and asset management, as it was called in a statement from the central bank (People’s Bank of China) on Sunday. Instead, Ant should go back to its roots as a provider of payment services. A few weeks ago, the company’s IPO, in which Alibaba has a one-third stake, had already failed./gl/mis
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