New York Stocks: Dow rises above 27,000 points

The Dow Jones Industrial just overcame the 27,000 point mark and was most recently 0.94 percent higher at 27,015.61 points. On Wednesday, the Dow had fallen by almost 2 percent. The market-wide S&P 500 rose on Thursday by 0.99 percent to 3268.82 points. The technology-heavy Nasdaq 100 gained 1.33 percent to 10,977.11 after falling more than 3 percent the day before.

Among the individual stocks, shares of Goldman Sachs were the top performers in the Dow, up 5.6 percent. Previously, the major Swiss bank UBS had upgraded the investment bank’s securities from “Neutral” to “Buy” and raised the price target from US $ 220 to US $ 245. Goldman is achieving solid results in the current difficult environment, wrote analyst Brennan Hawken and raised its earnings forecasts (EPS) for the years 2020 and 2021. At the lower end of the benchmark index, the shares of Boeing were with a price decline of almost 2 percent.

The Tesla papers recovered after a significantly weaker opening and were recently quoted 4.3 percent higher. Recently, company boss Elon Musk had disappointed hopes for a breakthrough in battery technology. The company also struggled with technical problems with the Tesla app, which connects customers to their cars.

The title of the potential Tesla competitor Nikola dropped another 6 percent. Since the record high in June, they have now lost almost 80 percent of their value. Founder and CEO Trevor Milton resigned after allegations of fraud rose and the authorities opened an investigation. Now, financial services and investment firm Wedbush Securities has downgraded the stock./edh/fba

(AWP)

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