NEW YORK (awp international) – Wall Street is likely to return with profits after a holiday break. Three quarters of an hour before the start of trading on Tuesday, the broker IG valued the Dow Jones Industrial 0.69 percent higher at 31 026 points. This means that the US benchmark index should again approach its record high from the previous week at 31,223.78 points. The US stock exchanges were closed on Monday because of the holiday “Martin Luther King Day”.
Investors are currently counting on the fact that the designated US President Joe Biden wants to push the next one after the previous huge economic stimulus packages in order to fight the Corona crisis. The planned size: $ 1.9 trillion. Investors expect more information on this from the hearing of US Treasury Secretary-designate Janet Yellen before Congress.
The question now is whether some Republicans in the Senate will work with the Democrats, said analyst Edward Moya of the trading house Oanda. According to experts, it is unlikely that the aid package will be implemented in the size presented. For some projects, the majority of Democrats in Congress are not enough. Moya reckons that some Republicans might be willing to cooperate. They could use the upcoming mid-term elections in 2022 to distance themselves from Trump supporters in their own ranks.
With regard to individual values, the banks’ reporting season is entering a new round. Goldman Sachs exceeded expectations: Thanks to the flourishing securities trading in the Corona crisis and bubbling income in investment banking, the financial group increased its profit in the final quarter strongly and surprisingly significantly. In pre-market US trading, the shares rose 2.2 percent.
Low interest rates and higher costs due to the Corona crisis, however, weighed on Bank of America at the end of the year. With this, the papers fell by 1.8 percent.
Halliburton’s quarterly figures surprised positively. The shares of the oilfield equipment supplier gained 2.6 percent in the pre-market business.
Meanwhile, Boeing’s 737 Max crisis jet will soon be able to take off again in Europe after being banned from flying for almost two years. He expects the re-certification in the next week, said the head of the European aviation authority EASA, Patrick Ky. According to the authority, the improvements to the aircraft type met the requirements for flight safety. Boeing’s shares gained 1.5 percent before the market ./la/jha/
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