At the end of the week, the standard values were more in demand than the technology values, which, in addition to the Dow, also brought the market-wide S&P 500 a record high. It rose by 0.88 percent to 3699.12 meters. The Nasdaq 100 tech selection index increased by 0.49 percent to 12,528.48 points, but was unable to set another record. However, this was achieved by its broader index brother, Nasdaq Composite.
Investors in New York were unimpressed that US employment growth in November fell far short of expectations. On the market it was said that this had been compensated by the hope of a new stimulus package. With the mixed job data, the pressure on the parties in Washington to finally reach an agreement has increased.
Stock marketers pointed out that the future will be traded on the stock markets – and investors were building on the hope that there would be more government aid in the USA and that several vaccines, which are about to be approved, would point a way out of the crisis. Historically high gains in November with ever new course records are an expression of this.
Investors in the oil sector were in a good mood after the oil network Opec + agreed on a lower increase in oil production than planned in an earlier plan. Along with the oil price, this also boosted the share prices of companies such as Chevron and ExxonMobil, whose shares rose by up to 3.9 percent. Occidental Petroleum even rose by more than 13 percent among the other industry stocks.
“The delivery volumes are only increased very slowly. This means that Opec + is adapting its delivery volume to the current purchase possibilities of the still fragile economy,” wrote market expert Thomas Altmann from asset manager QC Partners. “That is a positive signal for the oil price.” This usually also has a positive effect on the share prices of the oil multinationals.
In the Dow, Boeing paid tribute to their latest rally at a discount of 1.9 percent. After the shares had risen by around 70 percent since the beginning of November because of the vaccine hope and the lifted flight ban for the crisis jet 737 Max, some investors now cashed in. As it became known on Friday, the aircraft manufacturer intends to further reduce production of the 787 “Dreamliner” long-haul jet.
Otherwise, the main focus was on the vaccine developers. As Moderna announced, study data indicate that one’s own vaccine could offer protection against Covid-19 over a longer period of time. The strong shares fell three percent on Friday due to profit-taking.
Even with the Biontech course, the air is gradually getting thinner. The day before, slightly burdened by a report on obstacles in the supply chain and initially again weaker in the US trade, the Mainz company’s papers still managed to gain 1.1 percent. The stocks of the US partner Pfizer gained 0.6 percent.
Otherwise, the shares of the transport service providers Uber and Lyft, which had also been affected by the corona crisis in recent months, showed strength. Lyft jumped seven percent to hit levels before the virus crash in February. At Uber, an increase of 4.5 percent was enough for another record high. They compensated for the crash in early November.
The euro only continued to soar temporarily. After rising to $ 1.2178, the highest level since April 2018, the common currency was last listed at $ 1.2127. The European Central Bank (ECB) set the reference rate at 1.2159 (Thursday: 1.2151) dollars. The dollar cost 0.8224 (0.8230) euros.
The prices of US Treasuries fell again. The price of the futures contract for ten-year Treasuries (T-Note-Future) fell by 0.28 percent to 137.37 points. In return, the yield on the ten-year bond rose to 0.97 percent./tih/he
— By Timo Hausdorf, dpa-AFX —
(AWP)
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