NEW YORK (dpa-AFX) – The New York stock market presented itself in still strong shape on Thursday. After the leading index Dow Jones Industrial reached a record high for the fourth day in a row, the S&P 500 has now also achieved this. The market-wide index went out of trading with an increase of 1.04 percent to 3939.34 points. The Dow gained 0.58 percent to 32,485.59 points.
The Nasdaq 100 was still catching up with a plus of 2.36 percent to 13 052.90 points. The technology-heavy selection index had corrected by twelve percent from its all-time high in mid-February to last Friday, but has since increased by almost seven percent.
The number of initial jobless claims last week in the US fell more than expected. Nevertheless, this did not affect the prices on the American bond market. The futures contract for ten-year Treasuries (T-Note-Future) recently rose by 0.06 percent to 132.60 points, while the yield on ten-year government bonds fell to 1.52 percent. Recently it had risen to 1.6 percent and above all let the highly valued tech stocks slide. The trigger was the fear of rising inflation in view of Joe Biden’s billion dollar rescue package to cope with the corona crisis, which the US president put into effect with his signature this Thursday.
Big tech stocks like Tesla and Facebook rose sharply on the penultimate trading day of the week by 4.7 and 3.4 percent, respectively. Facebook wants to place more advertising in shorter videos and thus attract more influential people in the social media area. The online network wants to defy the short video app Tiktok.
On the downside in the technology sector, shares in Oracle stood out. The strong cloud business with IT applications and storage space on the Internet gave the software company a further boost in the past quarter, but the papers still sagged by six and a half percent. The announcement of further share buybacks did not help either. The shares had recently hit a record high, so investors are now reaping profits for the time being.
There was positive news on Thursday for Johnson & Johnson, whose corona vaccine has been approved by the European Union on the recommendation of the EMA. The EU expects the first deliveries in April. The advantage of the Johnson & Johnson vaccine is that it only needs to be administered once, which could speed up vaccinations. The stocks listed in the Dow reacted little to this and ended trading virtually unchanged.
At the top of the leading index, the papers of the aircraft manufacturer Boeing again advanced by a further 2.7 percent. According to circular reports, the Airbus competitor is about to receive a major order from Southwest Airlines for the 737 Max. For some time now, Boeing shares have also benefited from the trend on the stock market to papers of the “old economy” and from the aviation industry’s hopes for an approaching end Corona crisis.
The shares of the dating platform Bumble rose almost eleven percent after the first publication of quarterly figures since the IPO. Investors thus rewarded failed sales and a positive outlook better than expected. People want to meet again. The demand for dates after the end of the pandemic is likely to increase.
The euro rose in New York trading towards $ 1.20 and cost $ 1.1989 after the market closed. The European Central Bank (ECB) had set the reference rate at 1.1969 (Wednesday: 1.1892) dollars, the dollar thus cost 0.8355 (0.8409) euros./ajx/fba
By Achim Jüngling, dpa-AFX
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