NEW YORK (dpa-AFX) – The approaching extensive corona aid package for the US economy as well as calming on the bond markets ensured strong gains on the US stock exchanges on Monday. In addition, strong sentiment and economic data supported, as sentiment in US industry brightened surprisingly strongly in February. The ISM purchasing managers’ index reached its highest level in three years. In addition, construction investments rose significantly more sharply than expected in January.
The world’s best-known index, the Dow Jones Industrial, rose 2.23 percent to 31,623.27 points in early trading, heading back towards its record high. He had achieved this last Wednesday with a little over 32,000 points.
After the approval of the democratically dominated House of Representatives, US President Joe Biden called on the Senate to quickly pass the almost two trillion economic stimulus package he proposed against the Corona crisis. Biden’s Democrats and Republicans each have 50 seats in the Senate. Vice-President Kamala Harris – who is also President of the Chamber – can cast the casting vote in a stalemate.
The market-wide S&P 500 rose on Monday by 2.15 percent to 3893.30 points. The technology-heavy Nasdaq 100 advanced 1.95 percent to 13,161.10 points. In the US bond market, government bonds started with slight gains. The yield on trend-setting ten-year bonds fell slightly to 1.43 percent.
Among the particularly sought-after stocks on the US stock market were oil stocks, which benefited primarily from the rise in oil prices. Chevron’s shares rose 3.4 percent in the Dow. ExxonMobil gained 5.5 percent in the S&P 100 index.
Johnson & Johnson grew by a slightly below average 1.5 percent. As expected, the pharmaceutical company has received emergency approval for its corona vaccine from the US Food and Drug Administration.
Favorite in the Dow were Boeing, who rebounded 6.6 percent from their recent setback. United Airlines shares were in high demand on the Nasdaq, rising 5.6 percent as one of the top stocks. They not only benefited from positive industry sentiment. Apparently the market also welcomed the airline’s resolution of fraud allegations against payment of nearly $ 50 million./ck/stw
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