New York equities: Dow continues to rise – Nasdaq indices continue to hunt for records

The US leading index Dow Jones Industrial rose by 1.09 percent to 27,120.42 points, climbing back to the level from the beginning of June. For the market-wide S&P 500 it went up by 0.57 percent to 3325.35 points. The technology-heavy Nasdaq 100 advanced 0.23 percent to 11,122.46 points.

A few more quarterly reports were due from the company. Among the Dow stocks, the focus was on Walt Disney stocks, which soared almost nine percent, making them the lone leader in the index.

Although the corona pandemic broke the US entertainment giant in the deep red, management also referred to the “unbelievable successes” of the Disney + streaming service. The video service, which was launched in November, already had 60.5 million subscribers on Monday this week, stressed Disney boss Bob Chapek. The news that the real-life version of the fairy tale “Mulan” is not to be released first in the cinema, but on Disney + – and at a price of just under 30 US dollars, was also very well received by investors. Bank Credit Suisse spoke of the media company’s strong numbers and canceled its risk discount for Disney shares.

Activision Blizzard’s shares fell almost three percent despite strong numbers. The video game business continued to grow rapidly during the Corona crisis. Revenue rose significantly in the past quarter year-on-year and the number of active users of Activision games also increased. The papers are among the winners of the crisis and climbed to a record high on Tuesday. Now investors took profits.

The shares of Beyond Meat lost around seven percent. The expectations of the meat substitute manufacturer were high, wrote analyst Erika Jackson from the Swiss bank UBS. Since sales in the food service area, for example in business with restaurant chains, were disappointing, they are not surprised by the significant price decline. The sales to retail customers would have been a pleasant surprise. / La / he

(AWP)

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