The record hunt on Wall Street started a new round on Thursday. Both the most important technology stock indices and the S&P …
NEW YORK (dpa-AFX) – The record hunt on Wall Street started a new round on Thursday. Both the most important technology stock indices and the S&P 500, which tracks the broader market, rose and reached highs in the course of trading. One of the driving forces was that US President Joe Biden had overcome a hurdle in the struggle for billion dollar investments in infrastructure. “We have reached an agreement,” Biden wrote on Twitter after speaking to a group of Democratic and Republican senators. Despite the deal, it is not said that a smooth passage in Congress is imminent.
The technology-heavy NASDAQ 100 rose 0.64 percent to 14,365.96 points. The more comprehensive Nasdaq Composite (NASDAQ Composite Index) gained 0.69 percent to 14,369.71 points.
For the S&P 500 it went up 0.58 percent to 4266.49 points. The Dow Jones Industrial (Dow Jones 30 Industrial) also posted gains, but is still a bit short of its high in early May. The US leading index rose by 0.95 percent to 34,196.82 points.
In addition, the latest US economic data was positively received by investors. The weekly initial jobless claims did not fall as much as economists had forecast, and incoming orders for durable goods had risen less strongly in May than expected. Nevertheless, the data showed that the economic recovery in the USA is continuing, wrote the experts at Landesbank Helaba.
With regard to the policy of the US Federal Reserve, the current economic news would not encourage speculation about a turnaround in interest rates, continued the Helaba experts. Recently, the sharp rise in inflation in the United States had aroused fears that interest rates could rise faster than expected and thus make equities appear in a worse light than bonds.
From the S&P 500 top, the papers from Eli Lilly (Eli Lilly and) greeted with a plus of more than seven percent. The shares had previously reached a record high. With its Alzheimer’s drug Donanemab, the pharmaceutical company is a decisive step further on the way to market approval. The US drug regulatory authority FDA granted the drug the status of “Breakthrough Therapy”, which an accelerated approval is possible. This status is usually given to drugs for severe or life-threatening conditions that show a significant improvement over the available therapies.
It was only at the beginning of June that the FDA granted the Biogen Group approval for its novel Alzheimer’s drug aducanumab, despite its controversial effectiveness. It was the first approval for an Alzheimer’s active ingredient since 2003. On this Thursday, however, in contrast to the Eli Lilly shares, the shares of Biogen, bottom of the S&P 500, dropped by a good six percent.
The shares of the US solar company First Solar soared by more than five percent. The US is blocking the importation of solar components from Xinjiang because, according to Washington, they are manufactured in the autonomous region of China with the use of slave labor.
The euro benefited somewhat from robust economic data from the Eurozone and was last traded at $ 1.1933. The European Central Bank had set the reference rate at 1.1936 (Wednesday: 1.1951) dollars. The dollar cost 0.8378 (0.8368) euros. The futures contract for ten-year Treasuries (T-Note-Future) fell by 0.02 percent to 132.12 points. The yield on ten-year bonds was 1.49 percent./la/he
— By Lutz Alexander, dpa-AFX —
– .
