NEW YORK (dpa-AFX) – Thanks to clear political conditions in Washington, important US stock indices rose significantly on Thursday and reached highs. A fresh boost came from unexpectedly good economic data.
The US leading index Dow Jones Industrial (Dow Jones 30 Industrial) rose by 0.94 percent to 31,119.99 points and was thus at a record level. For the market-wide S&P 500 it went up 1.44 percent to 3802.20 points. He too is currently moving at heights never seen before.
The technology-heavy NASDAQ 100 jumped 2.13 percent to 12,891.63 points, but is still a bit short of its record level only reached on Monday. The Nasdaq Composite (NASDAQ Composite Index), another important technology index, jumped to a record high on Thursday and was also a good 2 percent up recently.
Now that the US Democrats have also won Senate sovereignty, President-elect Joe Biden can now more easily implement and govern his political agenda, which is likely to provide for even more extensive economic aid with high investments in infrastructure.
In the meantime, the two chambers of congress have officially certified Biden’s victory in the presidential election after angry Trump supporters had temporarily thrown the political center of the USA into unprecedented chaos with the storming of the Capitol. With the confirmation of the Biden election victory and that of Donald Trump According to observers, the announced orderly transfer of power is now giving way to uncertainty in the markets.
Analyst Jochen Stanzl from the trading company CMC Markets noted that under Biden, possible tax reforms could damage corporate profits and thus the overheated share prices. “However, these risks should be compensated for by the long-term ultra-low interest rates, which will keep stocks more attractive compared to fixed-income investments and which should further cloud investors’ view of the risks.”
Meanwhile, there was reason to be happy on the part of the economy this Thursday: The mood of the US service providers was unexpectedly robust at the end of last year despite the worsening of the Corona crisis.
In the very friendly market environment, economically sensitive stocks from the banking sector were among the biggest winners. Goldman Sachs’ shares rose by a good three percent and those of JPMorgan (JPMorgan ChaseCo) by more than four percent.
From the top of the Dow, the papers from Walgreens Boots Alliance greeted with a plus of a good seven percent. The pharmacy chain exceeded expectations with its quarterly figures.
In the opposite direction, with around ten percent minus, it went for the titles of Bed Bath and Beyond (Bed BathBeyond). The retailer, which specializes in bathrooms and kitchens, disappointed investors with its latest set of figures./la/he
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