NEW YORK (dpa-AFX) – The US stock exchanges only made a small step forward in early trading on Wednesday. During the course of the day, the Dow Jones Industrial lacked the strength and investors the necessary impetus for a sustained rise above the 34 700 mark. The Wall Street price barometer was just 0.05 percent up at 34 591.10 points two hours before the end.
Other indices were also mostly unable to defend early gains. The market-wide S&P 500 recently rose by just under 0.03 percent to 4203.17 points, while the technology-heavy Nasdaq 100 was down 0.17 percent. He last noted with 13,630.98 points.
According to the market, investors are currently maneuvering between hopes of a strong economic recovery and worries that inflation will rise too sharply, which could put pressure on the US Federal Reserve with its loose interest rate policy. The day before, the US stock exchanges had lost their initial momentum for this reason and despite good US sentiment data.
Investors are currently on hold, according to an analyst. Due to inflation concerns, the actors waited for further signals from the monetary authorities as well as further important economic data in the course of the week, including the official labor market report on Friday. The expert sees a basis for a change in monetary policy, but no automatic end to the share rally.
On the company side, the papers of the video conferencing service Zoom were turned down 0.9 percent after a firm start. Investors were therefore not persuaded by good quarterly figures. The company continues to grow rapidly thanks to the corona pandemic and was able to exceed analysts’ expectations with a multiple profit in the first quarter.
However, the bigger headlines continued to be made by the shares of AMC, which remain a plaything on the Internet for organized speculators. An impressive rally in the past few days culminated on Wednesday with the share price doubling and an interim record above the $ 70 mark. The rate has more than tripled within a week.
The price jump of almost 67 percent at the biotech company Constellation Pharmaceuticals, which is about to be taken over by the German MDax group Morphosys, was also very clear. The bid is $ 34, making the company’s equity worth $ 1.7 billion. As the price jumped, the price approached the price offered.
A big winner on Nasdaq was Moderna’s 3.4 percent higher shares with a record high. The Covid-19 vaccine manufacturer is deepening its partnership with the Swiss Lonza group with another production line in the Netherlands. An additional 300 million vaccine doses should be produced there every year. / Tih / men
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