On the Nasdaq technology exchange, the Nasdaq 100 selection index recently gained 0.65 percent to 13,702.82 points. On a weekly basis, however, it is heading for a minus of more than 1 percent. The leading index Dow Jones Industrial reached a record level on Friday for the third day in a row and most recently advanced by 0.50 percent to 34,722.13 points, indicating a weekly plus of two and a half percent. The market-wide S&P 500 gained 0.63 percent to 4228.00 meters and also set a new record.
The increase in jobs in the US economy remained well below expectations in April. In addition, the development in the previous month was subsequently corrected downwards. The unemployment rate also rose slightly in April, while analysts had expected a decline. After all, hourly wages increased significantly – stagnation was expected here.
Analysts were disappointed with the figures, but commented cautiously. It was difficult to assess how much weight the report should be given at a time when many other indicators were pointing to a rapid economic recovery, according to the analysis house Capital Economics. Thomas Gitzel, chief economist at VP Bank, expects “an even more significant build-up of new jobs?” In the coming months. The US economy is currently growing rapidly, as the national vaccination program is taking effect and the government is making substantial financial aid available.
Even before the labor market report, the prospect of an economic improvement had pushed the copper price to a record high. The supply can hardly keep up with the rapidly increasing demand, especially from China. The shares of the copper and gold producer Freeport-McMoRan gained over four percent to 43.78 US dollars. In doing so, they continued their year-long high-altitude flight and were as expensive as they were in 2012.
The roller coaster ride on the papers of the corona vaccine manufacturers continued. On Friday, they benefited from the German government’s stance against a patent release for Covid-19 vaccines: The depository receipts listed in New York for the German manufacturers Biontech and Curevac recovered by almost eight and over five percent, respectively. The shares of the US competitor Moderna, which were also weakening recently, gained 1.7 percent. In the fight to contain the pandemic worldwide, the US government recently pleaded for the suspension of patents for the corona vaccines, as a result of which the papers of the vaccine producers had suffered severely.
Nike papers benefited from good quarterly figures from German competitor Adidas: with a price increase of over three percent, the world’s largest sporting goods manufacturer topped the list of winners in the Dow.
Nikola shareholders could look forward to a price jump of nine and a half percent to $ 11.10 before the weekend. The loss of the US electric truck manufacturer in the first quarter was less than expected. However, the papers are still miles away from the record value of just under $ 94, which is not yet a year old.
The up-and-coming fitness equipment supplier Peloton is expecting manageable financial consequences from the widespread recall of its treadmills. In the current quarter sales will decrease by a total of 165 million dollars, according to CFO Jill Woodworth. This breathed new life into the stocks that were last hit: They rose by almost one and a half percent.
Beyond Meat, however, missed analysts’ expectations with its first quarter sales. Restaurants and stadiums were closed because of the pandemic, which put a strain on the meat substitute producer. The shares lost around six percent in value./gl/he
(AWP)
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