On Wall Street, the Dow Jones Industrial ultimately gained 0.68 percent to 35 135.94 points after the US stock market barometer had temporarily completely surrendered its profits in early trading.
The broad S&P 500 rose 1.32 percent on Monday to 4,655.27 points, and the Nasdaq 100 advanced 2.33 percent to 16,399.24 points. On Friday, both the Dow and the tech stocks index plummeted by more than two percent in shortened trading after reports about Omikron made the rounds.
Market analyst Jochen Stanzl from CMC Markets also wrote in view of the brightened mood: With the reports on Omikron, hopes were again sprouted that the US Federal Reserve could give in and reconsider the “tapering course” it recently embarked on – that is, the reduction in bond purchases . “Monetary policy is likely to give way if the new virus mutation poses a threat to the ongoing economic recovery and could prolong the pandemic.”
News from vaccine manufacturers also had a positive effect. The biotech company Moderna announced on Sunday that it could produce a large-scale vaccine specially tailored for Omikron early next year.
The Mainz competitor Biontech also announced that it was working on the development of an adapted vaccine. Accordingly, both papers continued their recovery rally. After a more than 20 percent plus on Friday, Moderna gained just under 12 percent and were thus the top value in the Nasdaq 100. The Biontech shares listed in New York rose by another 4.2 percent after their most recent 14 percent increase. However, both titles still have a long way to go to their record highs in August.
Still, it looked rather bleak for stocks from the travel and leisure industry: The stocks of American Airlines, Delta, Southwest and Jetblue Airways fell. Only United Airlines recovered somewhat, up 0.7 percent.
At the start of trading, the Twitter shares made a price jump of 11 percent at times, but in the end it went down by 2.7 percent. The trigger for the initial price jump were media reports about a change at the top. This was later confirmed by the short message service, but the fact that the previous chief technology officer Parag Agrawal took over the office was not well received.
Analyst Susannah Streeter from the British asset manager Hargreaves Lansdown justified: Investors were so dissatisfied with Dorsey’s “part-time role” as CEO that the price jump was understandable. The fact that Agrawal was now taking the helm was not convincing. Investors would have hoped for a breath of fresh air from an external candidate.
The euro was priced at $ 1.1283 at the close of trading on Wall Street. The European Central Bank had set the reference rate at 1.1276 (Friday: 1.1291) dollars. The dollar cost 0.8868 (0.8856) euros.
On the US bond market, the contract for ten-year Treasuries (T-Note Future) recently fell by 0.01 percent to 131.16 points. The yield on ten-year government bonds rose to 1.51 percent./ck/mis
— By Claudia Müller, dpa-AFX —
(AWP)
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