NEW YORK (awp international) – The signature of US President Donald Trump on another multi-billion dollar corona stimulus package set new records on the US stock exchanges on Monday. The Dow Jones Industrial rose 0.8 percent to 30,442 points in early trading. The market-wide S&P 500 and the selection indices on the technology-heavy Nasdaq stock exchange rose to new highs shortly before the end of the year.
On the weekend, US President Trump gave up his opposition to a corona stimulus package worth around 900 billion US dollars passed by Congress with a bipartisan majority. In doing so, he also released part of the government budget – otherwise there would have been a so-called “shutdown” on Tuesday, ie an at least partial standstill in the authorities and government business.
The S&P 500 then gained 0.70 percent on 3729 points. For the Nasdaq 100 it went up 0.71 percent to 12,801 points.
“Trump must have felt the increasing public pressure,” wrote analyst Edward Moya of the trading house Oanda. Without the package signed, many Americans would not have received any unemployment benefits. Moya called Trump’s refusal to sign the package “unnecessary drama”.
The leading index Dow was driven not least by the heavyweight Apple, whose price at the top of the index rose by 2.5 percent. This means that the tech giant’s papers were not short of another record high.
Company news was in short supply on Monday. Alibaba’s shares, which are listed in New York, stabilized slightly at plus 0.4 percent after they had slumped by more than 13 percent in the shortened session on Christmas Eve. The internet giant is under increasing pressure from the Chinese competition watchdog.
The Chinese central bank asked the company Ant Group of investor Jack Ma to concentrate on its original core business again. The financial company is to “clean up” its business with lending, insurance and asset management, as it was called in a message from the central bank of China. Instead, Ant should go back to its roots as a provider of payment services. A few weeks ago, the company’s IPO, in which Alibaba has a one-third stake, had already failed ./bek/fba
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