NEW YORK (dpa-AFX) – With the exception of the Dow Jones Industrial, the most important US stock indices continued their record run on Monday. This should be supported by the fact that President Joe Biden moved away from veto plans over the weekend against the bipartisan agreement on the US $ 1.2 trillion economic stimulus package if another Democratic spending plan does not pass Congress.
About two hours before the close of trading, the Dow fell by 0.61 percent to 34,224.64 points and the market-wide S&P 500 barely changed after its record at the start of trading with minus 0.05 percent to 4,278.51 points. But technology stocks remained in demand. The Nasdaq 100 recently gained 0.92 percent to 14,476.58 points and the broad Nasdaq Composite also reached a new record.
There was little to be felt about worries about the worldwide increase in the number of corona infections due to the particularly contagious Delta variant. The US labor market report due this Friday also seems a long way off for investors for the time being. The data generally play an important role in the monetary policy of the Fed.
Among the individual stocks, the shares of Microsoft and Nvidia climbed record highs. Most recently, the Microsoft papers gained 1.1 percent and those of Nvidia advanced by 4.9 percent. Salesforce also gained 1.1 percent in the Dow and benefited from the fact that the analysis house Redburn included the stock of the SAP competitor with “Buy” in its rating.
The focus was also on the shares in the pharmaceutical company Intellia Therapeutics with a plus of almost 50 percent, after the specialist for the genetic engineering so-called Crispr method, together with its partner Regeneron, announced “groundbreaking clinical data” of an ongoing phase I study at the weekend . Regeneron couldn’t benefit. They recently fell 0.8 percent on the Nasdaq 100.
In contrast, airline shares – as in Europe – fell. Because of concerns about the Delta variant of the corona virus, American Airlines’ papers lost 4.1 percent and Delta Air Lines and United Airlines fell by a little more than 3 percent. The Bloomberg news agency also reported on United, citing people familiar with the matter, that the airline wanted to buy more than 200 medium-haul jets from the manufacturers Airbus and Boeing.
Boeing lost 3.6 percent as the bottom of the Dow. According to market analyst Michael Hewson from CMC Markets, the main reason is that the US aviation authority FAA is still dissatisfied with the new long-haul aircraft 777 and does not want to approve the 777-9 before 2023./ck/men
–
