“The US labor market is recovering vigorously, although the consensus estimate for the unemployment rate was missed. The employment rate has meanwhile stagnated,” said Helaba analyst Ralf Umlauf, summarizing the development in June. According to him, there is not yet any acute pressure to act on the US Federal Reserve to deviate from its ultra-expansionary monetary policy, as many millions of jobs are still missing. He also referred to the reduced number of hours worked on average, while hourly wages had increased.
The Dow ultimately went out of trading with a plus of 0.44 percent to 34,786.35 points and has thus gained one percent in the past week. The S&P 500 advanced on Friday by 0.75 percent to 4,352.34 points and further expanded its extraordinary, slightly more than 14 percent half-year profit. Over the course of the week, the S&P posted a plus of 1.7 percent. The technology selection index Nasdaq 100 rose on Friday by 1.15 percent to 14,727.63 points and thus by 2.7 percent over the course of the week.
Among the individual values, the shares of IBM sank with minus 4.6 percent to the end of the Dow. Investors reacted with sales to the surprising news that cloud manager Jim Whitehurst – formerly head of the software provider Red Hat, which was taken over by IBM – is giving up his position in the top management of the group and is only available in an advisory capacity. Analysts had given him an important role in the necessary renovation of the computer dinosaur.
The Boeing papers fell by 1.3 percent, with which they increasingly recovered from their more pronounced initial losses. After the forced landing of a Boeing 737 cargo plane off Hawaii, the FAA announced an investigation. According to preliminary information, both pilots, who were the only occupants on board, were rescued by the US Coast Guard.
Johnson & Johnson, meanwhile, gained 1.8 percent in the Dow. According to its own information, the corona vaccine from the pharmaceutical company stimulates a “strong and sustained” immune response against the particularly contagious Delta variant (B.1.617.2). Curevac, however, lost another 4.6 percent after almost 3 percent the previous day – the papers continued to suffer from disappointing final data on the effectiveness of their own corona vaccine.
Virgin Galactic gained 4.1 percent in very brisk trade, as British billionaire Richard Branson announced that he wanted to fly into space on July 11th with the help of his space company.
Among the newcomers to the stock market, Krispy Kreme lost 9.0 percent to $ 19.12. Spending at $ 17, the titles in the donut chain closed their first day of trading on Thursday at $ 21. The Chinese transport service provider Didi had a strong stock market start on Wednesday. Now the papers gave way by 5.3 percent. Traders attributed this to the fact that the Chinese Internet regulator is reviewing the network security of the Uber competitor.
The euro gained again somewhat in the course of US trading and closed at $ 1.1866. The European Central Bank (ECB) set the reference rate in Frankfurt at 1.1823 (Thursday: 1.1884) dollars. The dollar cost 0.8458 (0.8415) euros. On the US bond market, the futures contract for ten-year Treasuries (T-Note Future) rose by 0.27 percent to 132.73 points. In return, the yield on ten-year bonds fell to 1.43 percent./ck/men
— By Claudia Müller, dpa-AFX —
(AWP)
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