NEW YORK (dpa-AFX) – In view of the overall good mood on the stock market, Wall Street largely continued its record hunt on Monday. Both the diversified S&P 500 as well as the most important technology indices reached highs. Most recently, calm statements by the US Federal Reserve (Fed) in terms of monetary policy provided momentum.
The S&P 500 advanced 0.58 percent to 4535.63 points. The leading index Dow Jones Industrial 
Moved only a little and was recently minimally positive at 35,465.12 points. The Dow is still short of a record high.
The highly regarded Nasdaq 100 won among the tech indices 1.14 percent to 15,609.61 points. The Nasdaq Composite was up 1 percent.
Thanks to progress on the job market and the inflation target, Fed Chairman Jerome Powell announced on Friday at an international central bank conference that purchases of US government bonds would be reduced this year to support the economy. However, he also referred to the delta variant of the corona virus, which is still rampant, and emphasized that the start of the reduction in the bond purchase program is not an immediate sign of an imminent rate hike.
In the financial markets, the cautious statements on interest rates, which had allayed worries about an abrupt change in monetary policy, were primarily taken into account. Higher interest rates would make investments such as bonds appear more attractive than stocks.
At the beginning of the week, the takeover carousel turned vigorously. Adtran’s shares fell by a good 14 percent. The fiber optic specialist wants to buy the German telecommunications equipment supplier Adva Optical. Its papers soared by more than 10 percent in German Xetra trading, making them by far the favorite in the SDax small-cap index .
The papers of the manufacturer of hospital beds, operating tables and patient monitoring systems Hill-Rom had jumped to a record high in the course of trading and recently rose by around ten percent to 146.29 US dollars after the pharmaceutical and medical technology group Baxter International, according to Wall Street Journal “raised its bid to $ 150 a share. In July, according to the report, Baxter had still offered $ 144 per share and was thus thrown out at Hill-Rom. For the Baxter papers, it was recently a good three percent up.
Meanwhile, the shares listed in New York in the Chinese online company Netease fell by more than four percent and were thus the bottom of the Nasdaq 100. They suffered from the fact that the Chinese leadership tightened the rules for young users of online games. Chinese companies from a wide variety of industries have been facing increasing control by the domestic government for weeks.
At the top of the index, PayPal’s shares gained more than three percent. According to a media report, the online payment service also wants to benefit from the boom in stock trading by small investors. After PayPal customers have been able to trade cryptocurrencies since last year, the company is now looking for ways to enable US customers to trade stocks, as the US business broadcaster “CNBC” reported, citing people familiar with the matter. la / mis
— By Lutz Alexander, dpa-AFX —
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