NEW YORK (dpa-AFX) – After pleasing US economic data and positive signals from Asia, investors on the New York stock market tended to take risks again on Tuesday. If the indices had been struggling at the beginning of the week in the face of persistent growth concerns, they are now advancing again.
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The leading index Dow Jones Industrial recently gained 1.08 percent to 32,573 points. The S&P 500 as a market-wide index increased by 1.61 percent to 4073 points. The tech-heavy Nasdaq 100 climbed 1.98 percent to 12,486 points.
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Confidence is growing in Asia that the corona lockdown in Shanghai could be relaxed. No new infections were reported in the Chinese metropolis for the third day in a row, which is a condition for easing the strict virus measures. The tough measures to contain the virus are considered one reason for the global supply chain problems that are threatening growth.
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Good news also came from the USA: Consumption in the world’s largest economy shows no signs of weakness. Retail sales picked up again in April, albeit slightly weaker than expected. In addition, US industry increased its production again in April and also more significantly than analysts had calculated. The gain follows solid gains in previous months. The analysts at Capital Economics explained that it underscores that it is not just consumer spending that is driving the US economy.
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