New York Stocks Conclusion: Investors take profits after records

The Nasdaq Composite technology index also ended the day with a negative sign after its record high. The other major US stock indices fared no better, which at times only traded just below their records: the broad-market S&P 500 retired from trading with a price decline of 0.38 percent to 3795.54 points and the technology-heavy selection index Nasdaq 100 closed at 0 .58 percent lower at 12,898.69 points.

Market observers saw a media report as the reason for the long positive price development, according to which the designated US President Joe Biden is planning trillion dollar corona aid. Biden’s advisers had told members of Congress that state aid in the fight against the economic consequences of the Corona crisis should amount to around two trillion US dollars, the TV broadcaster CNN reported, citing people familiar with the matter.

Biden will announce the details of the plan this Thursday, it said. These are to be revealed after 7:00 p.m. (local time) – well after the closing bell on Wall Street. In addition, the surprisingly strong increase in weekly initial applications for US unemployment benefits had already kept willingness to buy within limits.

Among the individual stocks, Blackrock stood out negatively: Although the financial giant reported a record value for assets under management in the final quarter of 2020, the shares fell by over four and a half percent. This was preceded, however, by an almost two-week record rally – now a number of investors apparently cashed in.

The situation was similar with the shares of Snap, which followed the previous day’s profit-taking with a minus of more than eight percent – apparently aided by the news that the operator of the video and short message app Snapchat had opened the outgoing US president’s account Donald Trump has banned. Snap followed the example of other online networks like Twitter and Facebook.

Meanwhile, Acacia Communications’ shares shot up by almost a third to $ 113.64. They benefited from the fact that the fiber-optic technology provider finally agreed on a takeover price with the network specialist Cisco: With an offer of 115 US dollars per share, which Acacia valued at around 4.5 billion dollars, Cisco was able to manage the Acacia convince. Cisco had already made its takeover plans public in summer 2019. The Cisco papers lost almost half a percent on Thursday.

The pet supplies retailer Petco Health and Wellness made a strong stock market debut: In the end, the shares of the Zooplus industry colleague were quoted at $ 29.40, which means a premium of almost two thirds to the issue price of $ 18.

The shares of Delta Air Lines gained around two and a half percent, although the airline announced a double-digit billion loss for the past year. This development did not come as a surprise to analysts, however, and the company was optimistic about 2021. The shares of other US airlines rose even more sharply in some cases.

At Beyond Meat, the shareholders could look forward to a further recovery in the share price: thanks to a cooperation agreement with the system catering group Yum Brands, which includes the restaurant chains KFC, Pizza Hut and Taco Bell, the titles of the meat substitute manufacturer rose by almost 14 percent. They have been able to iron out the price dip since the end of December. Yum shares gained over half a percent.

After a four-week low in New York at 1.2160 dollars, the euro has recently shown little movement. The European Central Bank (ECB) had set the reference rate at 1.2124 (Wednesday: 1.2166) dollars and the dollar cost 0.8248 (0.8220) euros.

After a subdued start, US government bonds came under more pressure: The futures contract for ten-year Treasuries (T-Note Future) fell 0.18 percent to 136.55 points. The yield on the ten-year bond was 1.13 percent./gl/he

— By Gerold Löhle, dpa-AFX —

(AWP)

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