NEW YORK (awp international) – Solid quarterly figures from the two Dow Jones Industrial companies Johnson & Johnson (J&J) and The Travelers drove the leading US index on Tuesday. At the closing bell, the Dow rose 0.56 percent to 35,457.31 points and is thus still near the record high of mid-August.
Other leading US stock market barometers added a little more: The S&P 500 advanced 0.74 percent to 4519.63 points. For the technology-heavy Nasdaq 100 it went up 0.72 percent to 15,410.72 points.
Since the economic calendar was poorly filled on the new trading day, the market participants concentrated on the numbers of US corporations. Among the winners in the Dow were the papers from The Travelers with a plus of 1.6 percent. Despite high catastrophe losses, the insurer performed better than expected in the past quarter.
Even further ahead in the Dow were Johnson & Johnson with a gain of 2.3 percent. After an increase in sales and profits in the third quarter, the pharmaceutical company has now become more confident about the year as a whole.
Procter & Gamble, on the other hand, lost 1.2 percent as the weakest stock in the Dow. The manufacturer of detergents and diapers reported a decline in profits due to higher costs, despite an increase in sales. The shares of the consumer goods manufacturer Colgate-Palmolive also fell.
Walmart’s shares rose 2.1 percent after investment bank Goldman Sachs put the trading company’s shares on a recommendation list. The stocks of the retailer Target were removed from that list, which then fell 0.6 percent.
In addition, the launch of the first exchange-traded fund (ETF) in the USA was a hot topic on the market. The fund does not invest directly in Bitcoin, but in futures contracts on the cryptocurrency. In the first day of trading on the New York Stock Exchange, the ETF went at just under $ 41 and finally rose to $ 41.38.
The launch of the fund is an important signal to the industry, wrote Timo Emden from Emden Research. “Further ETFs should follow shortly if they are approved,” believes the Bitcoin expert. Bitcoin itself was recently spurred on by this prospect. With funds on the Bitcoin, it should become easier, especially for private investors, to invest in the cryptocurrency.
The euro could not quite hold the gains from European trading and was most recently quoted at 1.1634 US dollars. The European Central Bank had previously set the reference rate at 1.1655 (Monday: 1.1604) dollars. The dollar cost 0.8580 (0.8618) euros.
On the US bond market, the futures contract for ten-year Treasuries (T-Note-Future) expanded the most recent losses and fell 0.16 percent to 130.56 points. Ten-year government bonds yielded 1.64 percent./bek/he
— By Benjamin Krieger, dpa-AFX —
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