Home » News » New York stocks: Investors rely on economic stimulus – IBM triumphs in the Dow

New York stocks: Investors rely on economic stimulus – IBM triumphs in the Dow

The Dow Jones Industrial posted two hours before the end of trading, an increase of 0.26 percent to 28,375.75 points. The S&P 500 advanced 0.58 percent to 3,439.32 points and the tech-heavy Nasdaq 100 rose 0.25 percent to 11,532.35 points.

Even the outcome of the US election on November 3 now seems to have lost its uncertainty, according to the current “Fuchs” stock letter. “The two presidential candidates Trump and Biden are pursuing very different directions, but the markets can be prepared for the fact that enormous sums of money will continue to be spent in both cases and will flow into the economy and into the markets,” the authors wrote on Thursday.

Among the individual values ​​in the Dow, the IBM shares stood out on Thursday with high price gains of more than five percent. Investors applauded because the IT group now wants to concentrate entirely on lucrative cloud businesses, which is why the division around network services for companies is to be split off and floated on the stock exchange as an independent company.

With high losses of more than six percent, however, the shares of the biotech company Amgen found themselves at the Dow end. They responded to new study data on a drug against heart failure. JPMorgan analyst Cory Kasimov called the data disappointing.

The investment bank Morgan Stanley wants to take over the asset manager Eaton Vance for around seven billion US dollars. The shares of Eaton Vance gained 48 percent after the news, those of Morgan Stanley rose 0.7 percent.

At the world’s largest fast food company, McDonald’s, the consequences of the corona pandemic are continuing to decline. In the third quarter, like-for-like sales worldwide fell by only 2.2 percent compared to the previous year. In the USA they even increased by 4.6 percent. However, the group’s shares fell slightly on Thursday. They had recently run well and reached a record high two days ago.

Eli Lilly won almost three percent. The pharmaceutical company announced an agreement with the Bill & Melinda Gates Foundation to supply a potential Covid-19 antibody therapy to poor countries. The agreement will make it easier for countries to gain access to future therapeutic antibodies from Eli Lilly, which are being developed for the prevention and treatment of Covid-19./ajx/he

(AWP)

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