NEW YORK (dpa-AFX) – The approaching extensive corona aid package for the US economy as well as calming on the bond markets ensured strong gains on the US stock exchanges on Monday. In addition, strong sentiment and economic data supported, as sentiment in US industry brightened surprisingly strongly in February. The ISM purchasing managers’ index reached its highest level in three years. In addition, construction investments rose significantly more sharply than expected in January.
The world’s most famous index, the Dow Jones Industrial, closed 1.95 percent higher to 31,535.51 points. This brought it back to its record high of last Wednesday at a little over 32,000 points. The market-wide S&P 500 rose by 2.38 percent to 3901.82 points. The technology-heavy Nasdaq 100 advanced 2.89 percent to 13,282.95 points. On the US bond market, trend-setting government bonds rose 0.14 percent to 133.35 points. At the same time, the return fell to 1.43 percent.
“The interest rate issue has lost some of its horror at the moment. The countermovement on the bond market is big enough to alleviate the interest-rate fear of equity investors,” commented Thomas Altmann from QC Partners. He also pointed out that “the next US aid package is taking on more and more concrete forms”.
After the House of Representatives approved US President Joe Biden’s $ 2 trillion package against the Corona crisis, Biden has now called on the Senate to pass it quickly. There, Democrats and Republicans each have 50 seats. Vice-President Kamala Harris – who is also President of the Chamber – can cast the casting vote in the event of a stalemate./ck/he
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