Investors in the US see tech funds; AstraZeneca excels | Financial

The Dow Jones index ends 0.4% higher at 32768 points. The broad S&P 500 gains 0.8% at 3945 points. Tech grant Nasdaq gets 1.5% on 13,408 points.

Negative news emerged from the US housing market. Sales of existing homes fell 6.6% last month.

Interest is falling

At the same time, the 10-year US Treasury’s critical interest rate falls to 1.682%, from 1.729% Friday, after its largest rise in three weeks. That gives technology stocks support again: the current present value of future profits is increasing thanks to the falling interest rates.

However, it is expected that with the stronger growth that the US is experiencing thanks to the faster vaccination than in Europe, interest rates will rise.

Brokers also point to market tension over US-China trade relations. After hard confrontations last week, talks are continuing, for example about mutual import duties. China still calls the Anchorage meeting “meaningful.”

Black leaves

Leon Black, the top executive of asset manager Apollo, announced his resignation. His position has been increasingly criticized in recent months for his financial ties and private relationship with convicted sex offender and investor Jeffrey Epstein.

AstraZeneca heading 4% higher. His vaccine has reached an effectiveness of 79%, the British-Swedish company claims.

PepsiCo wins 1.6%. Commercial bank Barclays foresees more growth and gives the beverage and snack giants an increase in advice. It finds PepsiCo undervalued.

Tesla wins

Major car manufacturers are under pressure. They also reported having a microchip shortage in the US. General Motors loses 1.7%.

Tesla wins 2.1%. Elon Musk’s concern received a price target increase to $ 3,000 from ARK mutual fund and star investor Cathie Wood. Wood has been following Tesla for years, stepping in at a price of $ 250 a share once. Tesla’s valuation would be valued at $ 3.6 trillion at the target price.

Zoom increases 0.6%. Goldman Sachs provides a purchase advice to the video streaming service operator.

Jumps at the stock Railroad Kansas City Southern in the eye. Its share is down 5% after agreeing to be bought by Canadian Pacific Railway at $ 25 billion.

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