The Dow Jones Industrial climbed above the highly regarded 35,000 point mark for the first time and reached a record high for the fourth trading day in a row. Most recently, the US benchmark index was 0.67 percent higher at 35,011.91 points. The market-wide S&P 500 fell 0.18 percent to 4224.96 meters. The technology-heavy Nasdaq 100 fell 1.75 percent to 13,479.75 points.
Tech stocks suffered as commodity prices rose, according to traders, fueling concerns that inflation could derail growth in the world’s largest economy. “People have been drawn to high-value stocks – growth can now be found outside of tech,” said Keith Lerner, chief marketing strategist at Truist Advisory Services.
The biggest losers among the tech stocks were Qualcomm with minus 5.1 percent, Tesla with minus 5.1 percent, Facebook with minus 3.9 percent, Twitter with minus 3.1 percent and Amazon with minus 2.4 percent.
From the company’s point of view, the Biontech shares were once again the focus of investors. After a significant setback in the previous week, the papers of the corona vaccine manufacturer are back on the road to recovery and climbed 7.3 percent. The European Union (EU) is buying up to 1.8 billion more doses of corona vaccine from Biontech or its cooperation partner Pfizer.
Spurred on by a billion-dollar profit in the first three months, Biontech wants to further expand its corona vaccine production and advance research in cancer therapy. The Mainz biotech company achieved a net profit of 1.1 billion euros in the first quarter of this year. Compared to the fourth quarter of 2020 (366.9 million), this is tripling. In the first quarter of 2020, Biontech had to accept a net loss of 53 million euros. Sales reached 2.05 billion euros, more than 70 times as much as in the corresponding period of 2020 (27.7 million).
For the shares of Marriott it went down by 3.4 percent. The adjusted earnings per share of the hotel giant did not collapse as sharply as feared in the first quarter. But sales were disappointing. / Edh / he
(AWP)
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