NEW YORK (dpa-AFX) – The US stock markets continued their rally of the previous week on Monday and reached further record highs. With the sixth trading day in a row, the stock exchanges also recorded the longest profit streak since August 2020. Increasingly better prospects for a robust economic stimulus package from the US government and a slowdown in corona infection rates, investors would have been positive, it said.
The Dow Jones Industrial (Dow Jones 30 Industrial) expanded its moderate early gains in late trading and closed 0.76 percent higher at 31,385.76 points, just below its record high immediately before. The other leading indices also recorded highs. The market-wide S&P 500 ultimately gained 0.74 percent to 3915.59 points. The tech-heavy NASDAQ 100 advanced 0.67 percent to 13,695.02 points.
On the weekend the new US Treasury Secretary had Janet Yellen said the US can return to full employment in 2022 if it adopts a robust, sufficient aid package. The rising oil prices also contributed to the positive overall picture. If the pandemic is increasingly pushed back by vaccinations, restrictions on public life could be lifted. In addition to the planned US economic stimulus package, this would benefit the economy and boost oil demand.
Oil stocks such as Chevron and ExxonMobil were correspondingly strong on Monday, increasing by 2.5 and 4.3 percent respectively. Occidental Petroleum’s stocks jumped almost 13 percent at the top of the S&P 100 index.
The front-runner in the Dow was Walt Disney’s shares, with a price premium of 4.9 percent to $ 190. In the course of trading, the entertainment company’s paper had reached a record high of $ 190.64. Disney will report on its business development for the past quarter this Thursday.
The Apple shares (Apple) only came out of the minus zone in the closing trade and closed 0.1 percent higher. South Korean automakers Hyundai (Hyundai Motor) and Kia (Kia Motors) put a damper on weeks of speculation about a collaboration to build an Apple car. Hyundai and its subsidiary Kia announced that they are currently not in talks with the iPhone company about the development of autonomous vehicles.
Tesla’s shares gained 1.3 percent. The Electric car-Manufacturer opens up to digital currencies and will soon accept payments in Bitcoin for purchases of cars and other products. In addition, Tesla itself bought bitcoins worth a total of 1.5 billion dollars. The news drove the Bitcoin price to a record high of more than $ 44,000 on Monday.
Only a few months after the failed takeover by US laboratory equipment supplier Thermo Fisher Scientific, QIAGEN seems to have got back into the crosshairs of a company. The US diagnostics specialist Quidel is considering a merger with the Biotech– and genetic diagnostics company, reported the Bloomberg news agency. Investors reacted differently: While Qiagen shares in New York rose by 3.2 percent, Quidel papers recorded a minus of 1.7 percent.
The euro exchange rate defended its stabilization above 1.20 US dollars in US trading from European business. Most recently, the common currency cost 1.2050 US dollars. The European Central Bank (ECB) had set the reference rate at 1.2025 dollars. The dollar had thus cost 0.8316 euros. The prices of US government bonds fell moderately. The futures contract for ten-year Treasuries (T-Note-Future) recently traded 0.07 percent lower at 136.62 points. The yield on the ten-year bond rose to 1.17 percent./edh/he
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