NEW YORK (dpa-AFX) – After the course records for the inauguration of the new President Joe Biden the day before, US stocks ran out of steam on Thursday. Although the leading index Dow Jones Industrial screwed up again to a high, it then gave up the moderate gains again. On the other hand, the run on the major technology stocks from the Nasdaq stock exchange continues unabated.
Most recently, the Dow was up 0.03 percent at 31,200 points. The market-wide S&P 500 was also moderately in the green with 0.05 percent with 3854 meters.
The technology-heavy Nasdaq 100, on the other hand, was able to continue the rally, climbing 0.59 percent to 13,375 points and soaring to another record high. Industry giants such as Apple, Advanced Micro Devices (AMD) and Intel gained two to three percent.
Since the beginning of November, the prices on Wall Street and even more so on the Nasdaq had risen sharply. The Nasdaq 100, for example, had gained almost 18 percent since then. The day before Biden’s inauguration, investors had once again seized the opportunity.
The season of quarterly reports from companies is picking up speed and is moving prices in some areas. For example, the shares of United Airlines lost 5.6 percent. The ailing airline has declared 2021 to be a year of transition and, according to its own statements, will not be as profitable again as it was before the Corona crisis in 2023.
The papers of the aluminum producer Alcoa even collapsed by almost twelve percent. Bank of America analysts complained that the company expected higher costs and had to spend cash on pension obligations.
The shares of the insurer The Travelers included in the Dow were among the winners in the leading index with a plus of 1.8 percent. Earnings per share exceeded even the highest analyst estimate in the final quarter of 2020. / Bek / he
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