NEW YORK (dpa-AFX) – The courses on Wall Street should build on the recovery of the previous day on Wednesday. The hope for a vaccine against the lung disease Covid-19 is giving the shares back support after a sharp rise in infection numbers weighed heavily on the stock markets at the beginning of the week. The trading house IG estimated the leading index Dow just an hour before the starting bell 0.6 percent higher to 27,460 points.
The pharmaceutical company Johnson & Johnson (JohnsonJohnson) has started a major test for a vaccine against Covid-19. Up to 60,000 volunteers can be administered the active ingredient, which should work after a vaccination. Johnson & Johnson is the fourth company to put its candidate into final testing in the US. The share price rose 2.2 percent in pre-trading.
Goldman Sachs analyst Guillaume Jaisson was optimistic: “Our economists expect the FDA to approve at least one vaccine this year.” According to Jaisson, a large part of the US population will probably be vaccinated by the end of the first half of 2021. In Europe, this will be the case a quarter later.
The focus in the morning was on Nike and Tesla. The price movements could hardly be more different: While Nike shares shot up by almost 14 percent to a record high after good business on the Nasdaq from June to August, Tesla shares sagged by a good 5 percent after an event on batteries for electric cars.
The statements on the performance of the drive cells and their costs were more ambitious than expected, wrote analyst Philippe Houchois from JPMorgan. On the other hand, there has been little new on the subject of one million-mile battery and the strategy for stationary electricity storage. That from the boss too Elon Musk announced bargain model did not tear investors off the stool. In the run-up to Battery Day, however, Tesla shares had already risen by almost 30 percent.
In the first quarter of the fiscal year, Nike exceeded the consensus estimate for earnings more than it has done in ten years, wrote UBS analyst Jay Sole. Alexandra Walvis from Goldman Sachs saw her confidence in long-term growth and profitability confirmed by the focus on online trading. In the wake of the Nike shares, the price of the counterparty Under Armor also rose by 3 percent before the market ./bek/jha/
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