NEW YORK (dpa-AFX) – The US stock markets rose on Tuesday due to the increasing optimism about the start of the corona vaccination and the progress made in talks about another US aid package. The fact that sentiment in New York’s industrial companies surprisingly clouded over in December left investors just as cold as the news that US industrial production rose slightly more than expected in November.
The Dow Jones Industrial initially rose above 30,000 points, but was unable to maintain this highly regarded level. Most recently, the leading US index was up 0.26 percent at 29,940.18 points, after having reached a record high of 30,325 points the day before.
The market-wide S&P 500 climbed 0.47 percent on Tuesday to 3664.69 points. For the technology-heavy selection index Nasdaq 100 it went up 0.48 percent to 12,522.34 points.
After an emergency approval, vaccinations against Covid-19 began in all US states on Monday. First of all, employees of health facilities as well as residents of old people’s and nursing homes are to be vaccinated. It is the largest vaccination campaign in the country’s history.
Investors are also hoping for the long-announced government aid package for the economy that has been hard hit by the corona pandemic. In addition, the meeting of the US Federal Reserve is approaching. The Fed plans to announce its monetary policy decisions on Wednesday. “It could also be a meeting without major measures, surprises and impulses,” wrote Milan Cutkovic from AxiCorp. “Fed Chairman Powell is more likely to emphasize the importance of further stimulus measures on the part of the state in order to reduce the risk of another recession.”
Among the individual stocks, Apple’s shares at the top of the Dow rose 3.2 percent. As the Japanese business newspaper “Nikkei” reports, the group wants to increase its iPhone production in the first half of 2021 by 30 percent.
Shortly before a possible emergency approval, the US Food and Drug Administration (FDA) presented figures on the high effectiveness of Moderna’s corona vaccine. Media reported that the emergency approval of the vaccine was likely on Friday. Moderna shares continued their correction after the price jump at the end of November and fell by 3.0 percent on Tuesday.
Bristol-Meyers Squibb (BMS) papers benefited from a positive analyst study and gained 2.8 percent. Goldman Sachs had made positive comments about the pharmaceutical stock and put it on the “Conviction Buy List” for particularly promising stocks./edh/mis
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