NEW YORK (awp international) – News about the health recovery of US President Donald Trump gave the US stock exchanges a tailwind at the start of the week. The stock markets in Japan and Europe had already benefited from the political uncertainty that had receded as a result and which had caused losses in large parts of the stock market on Friday.
The New York benchmark index Dow Jones Industrial tested the round mark of 28,000 points again on Monday and recently conquered it with a plus of 1.18 percent to 28,009.61 points. The technology-heavy Nasdaq 100 advanced 1.51 percent to 11,425.86 points and the broad S&P 500 posted a 1.22 percent gain to 3,389.14 points.
There was also positive news from the US economy on Monday: the mood in the service sector surprisingly improved in September. “At the moment, however, optimism is being dampened by the continued high number of new infections and the uncertainty with regard to the course of the election campaign,” commented Helaba’s economists. “The central bank representatives will therefore probably keep up the pressure on politicians to decide on further stimulus packages.”
According to statements by Trump’s medical team, the US president infected with the corona virus could possibly leave the hospital this Monday. Over the weekend there had been contradicting information about Trump’s health.
Among the individual values on the US market, the shares of Regeneron Pharmaceuticals rose by a good five percent against the background of Trump’s treatment with experimental antibodies against the virus.
Among the small caps on the Nasdaq, the shares of MyoKardia jumped 58 percent to almost $ 221, while the shares of the pharmaceutical company Bristol-Myers Squibb (BMS) fell slightly. BMS plans to buy the heart drug maker for $ 13 billion in cash or $ 225 per share.
Caterpillar shares rose 2.7 percent among the favorites in the Dow. The US construction machinery manufacturer is buying the oil and gas business of the British pump manufacturer Weir Group for just over 400 million US dollars in cash.
The titles of the electric car manufacturer Tesla recovered with a plus of around three percent from their heavy Friday losses. This made them one of the leading stocks on the Nasdaq 100./ajx/he
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