NEW YORK (awp international) – The buoyant rebound in Wall Street stock prices from the beginning of the week continued on Tuesday. Concerns about the economic consequences of the spread of the new Corona variant Omikron continued to decline. In early trading, the leading Dow Jones Industrial index rose 1.16 percent to 35,636 points. Apple’s shares hit another record high.
The prices on the technology-heavy Nasdaq stock exchange went up even more. The Nasdaq 100 advanced 2.18 percent to 16,191 points. The market-wide S&P 500 gained 1.69 percent to 4669 points.
According to their own statements, the market strategists at Credit Suisse recently observed a somewhat greater willingness to take risks among investors. The signals about the Omikron variant of the corona virus were particularly important at the beginning of the week. This appears to be less of a threat to people and markets than initially feared.
The shares of the chip company Intel were at the top of the Dow with a plus of 5.3 percent. The semiconductor manufacturer plans to list the Israeli subsidiary Mobileye on the stock exchange in mid-2022. After the IPO, Intel wants to remain the majority owner in the developer of technologies for autonomous driving.
Apple shares rose 3 percent to another record high. Alongside the general recovery rally in tech stocks, this was fueled by a comment from Morgan Stanley. The experts at the US bank expect the iPhone group to benefit from new products in the business with so-called virtual reality and autonomous driving.
At the end of the Dow, the shares of Merck & Co were 1.7 percent after the investment house Guggenheim had canceled the recommendation to buy the shares of the pharmaceutical company.
In addition to stocks from the technology sector, they were also looking for stocks from the financial industry. Goldman Sachs gained 2.5 percent, American Express 4.4 percent and Visa 2.1 percent. Morgan Stanley’s share prices also rose sharply./bek/jha/
– .
