The leading index Dow Jones Industrial rose 0.21 percent to 31,134.15 points around two hours before the close of trading. The market-wide S&P 500 advanced 0.45 percent to 3818.40 points. The tech-heavy Nasdaq 100 continued to build on its early gains, most recently climbing 0.82 percent to 12,998.10 points.
The moderate boost could have been triggered by a circular from the Bloomberg news agency: As a person familiar with the matter said, according to her, the high-ranking Democrat and future Senate majority leader Chuck Schumer has urged President-elect Joe Biden to more than 1.3 trillion in a first round US dollars in corona aid.
However, the inflation data did not provide any particular impetus. In December, consumer prices rose by 1.4 percent compared to the same month of the previous year, slightly more than expected. Core consumer prices – excluding components that usually fluctuate in price, such as energy and food – rose by 1.6 percent, as in the two previous months, which means that the inflation target of the US Federal Reserve (Fed) of around two percent is still undercut.
“In secret, the monetary authorities are likely to be pleased that there is no significant inflationary pressure,” said economist Thomas Gitzel from VP Bank in Liechtenstein on the data. “Imagine that inflation rates would rise significantly. In this case, the Fed or the ECB would have to take countermeasures, possibly scaling back their securities purchase programs. At the same time, the financial markets would start betting on higher interest rates current financial market events probably poison. “
Among the individual stocks among the top dogs in the market, the focus was on the shares of Intel, which rose 7.5 percent at the top in the Dow and Nasdaq 100. The chip company, which has recently come under increasing pressure, will change its boss in mid-February. The experienced tech manager Pat Gelsinger will take over Bob Swan’s top job. Gelsinger most recently headed the software specialist VMWare – and had previously spent decades at Intel, including as chief technology officer. VMWare shares fell 7.8 percent on Nyse. The papers of the parent company Dell fell by 8.1 percent.
In addition, an IPO on the Nasdaq technology exchange attracted enormous attention: Affirm Holdings were recently traded at just under US $ 100. The paper from the provider of installment payments for online shoppers had been issued the day before for 49 euros. The first rate was then during the day at 90.90 dollars.
General Motors (GM) rose 2.4 percent in the S&P 500. The car company plans to invest around 27 billion US dollars in research, development and production of electric cars by 2025 and will bring a total of 30 different electric models onto the market by then. In addition, GM is building its own battery factory. So-called Ultium batteries are to be produced there, which enable significantly higher ranges. The company plans to produce one million e-cars a year from 2025.
Zoom’s paper grew after initial losses and recently rose 4.0 percent. The video conferencing service got $ 1.75 billion through a share offering. A total of 5.15 million shares were placed at $ 340 each. In the next 30 days, Zoom can buy another 735,000 shares if the syndicate bank uses this option.
ExxonMobil stocks rose 1.6 percent and benefited from a buy recommendation from US bank JPMorgan. This had upgraded the papers of the oil company from “Neutral” to “Overweight “./ck/he
(AWP)
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