In the end, the leading index advanced by 1.43 percent to 34,326.46 points. It got off to a good start in October. On a weekly basis, he was able to reduce his minus, which was driven by concerns about inflation, US budget poker and economic worries due to delivery bottlenecks, to 1.4 percent.
The broader S&P 500 rose 1.15 percent to 4,357.04 points. The recovery was somewhat milder for the high-growth tech stocks, which had recently been hit particularly hard by fear of a tighter monetary policy. The Nasdaq 100 selection index, which was shaped by them, rose by 0.70 percent to 14,791.87 points.
According to stockbrokers, some investors were now on the hunt for bargains in order to take advantage of the reduced price level of stocks to get started. Above all, however, it remains noticeable that they are concerned about the high inflation and the risk of monetary policy tightening soon. The result is an increased nervousness these days and thus also volatility of the courses – with a strong recovery now.
The recovery rally was initiated by study data on a new corona drug from the pharmaceutical company Merck & Co, which said that the new drug halved the likelihood of very severe courses in high-risk patients. The group now wants to try to deploy it in the USA as quickly as possible and also submit corresponding applications to authorities around the world.
Such orally administered drugs would likely play a key role in relieving the hospitals currently treating corona patients, wrote analyst Andrew Baum of the US bank Citigroup. The shares of Merck & Co sat with a price jump of 8.4 percent clearly at the top of the Dow.
Papers from the travel and leisure industry also benefited greatly from the new glimmer of hope in the pandemic. American, Southwest, Delta and United Airlines stocks shot up between 5.5 and 7.9 percent. The papers of the hotel chain Marriott rose by 5.3 percent and those of Walt Disney were the second largest winner in the Dow with plus 4.0 percent. The media group is also known for its amusement parks.
Conversely, the news led to price distortions in the papers of vaccine manufacturers. Here, the prospect of an effective drug being launched on the market at times seemed like a shock; Biontech papers, which are the main traders in New York, had plummeted by more than 15 percent at their peak. In the end, the discount was put into perspective to 6.7 percent. At Moderna, a clearer minus of more than eleven percent remained, making the stocks the biggest loser in the Nasdaq 100 index.
Against this background, the stocks of pharmaceutical companies that have so far developed antibody treatments to combat corona also came under pressure. Regeneron Pharmaceuticals lost 5.7 percent. Vir Biotech trumped this with a price slide of 21 percent and Adagio Therapeutics collapsed by a good third.
Numerous economic data moved somewhat into the background on Friday. These did not strengthen the US dollar either; the euro, on the other hand, has stabilized for a good 14 months after its most recent low. Most recently, $ 1.1596 was paid for him. The European Central Bank (ECB) set the reference rate at 1.1600 (Thursday: 1.1579) dollars. The dollar cost 0.8620 (0.8636) euros.
US Treasuries also rallied on Friday. The futures contract for ten-year Treasuries (T-Note-Future) recently rose 0.43 percent to 132.17 points. The yield on ten-year government bonds fell from the latest high since June to 1.47 percent./tih/he
— By Timo Hausdorf, dpa-AFX —
(AWP)
–
