The technology-heavy Nasdaq 100 climbed again to a record high and closed with plus 2.02 percent to 9824.39 points. For the market-wide S&P 500 it went up by 2.62 percent to 3193.93 meters. The leading index Dow Jones Industrial was even stronger, increasing by 3.15 percent to 27,110.98 points. From a weekly perspective, this is the best record for the Dow in just under two months, with growth of almost seven percent.
Despite the corona crisis and contrary to market expectations, unemployment in the world’s largest economy fell in May. In addition, the companies built up employment again after cutting jobs massively in the previous month.
The shares of the US aviation giants Boeing and American Airlines also increased significantly at the end of the week by more than eleven percent each. They continued to benefit from the gradual return of the economy and public life to normal. Investors are now switching from the previous crisis winners and so-called “stay-at-home stocks” to stocks that should develop better in times of normalization, said analyst David Madden from CMC Markets UK.
A media report about a takeover interest in Grubhub caused the shares of the US food supplier to rise by a little more than five percent. In the meantime, at a peak of $ 64.19, they had come close to their interim high reached on May 12th. At that time, an alleged interest from the transport operator Uber had already fueled the title. Delivery Hero and Just Eat Takeaway.com are now interested in Grubhub, according to CNBC.
There were quarterly figures from the chip manufacturer Broadcom and the provider of the office communication platform Slack. The latter disappointed with sales and outlook, which is why the slack papers sagged by more than 14 percent. The Apple supplier Broadcom, however, delivered on the earnings side what analysts had expected. Traders also referred to the stable dividend. The shares reduced their high gain at the end of the day, however, to just a little more than two and a half percent.
The positive surprise on the US labor market put a damper on the euro’s most recent rally. The common currency fell back below $ 1.13. After the US market closed, it was priced at $ 1.1282. The European Central Bank (ECB) had set the reference rate at 1.1330 (Thursday: 1.1250) US dollars, the dollar cost 0.8826 (0.8889) euros.
On the US bond market, trend-setting ten-year government bonds lost 17/32 points to 97 18/32 points. They yielded 0.882 percent./ajx/he
— By Achim Jüngling, dpa-AFX —
(AWP)
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