Stocks New York: Wall Street continues to recover

it went up 1.47 percent to 14,984.19 points.

On Wednesday, the US stock exchanges managed to stop their initially steep decline and finally turn the early losses into profits. It was triggered by statements by Russian President Vladimir Putin and the leading Republican in the US Senate, Mitch McConnell. Putin wants to help stabilize the energy markets through gas deliveries, which would also indirectly reduce the demand for crude oil. McConnell had suggested to the Democrats, among other things, not to block an emergency increase in the debt limit until December, which has now been agreed. This would at least postpone the risk of the world’s largest economy defaulting.

In terms of data, the weekly initial jobless claims were convincing and surprisingly fell significantly. The government’s labor market report for September will be released this Friday. It is an important indicator for the further monetary policy of the central bank, which is feared that it could raise interest rates faster than the stockbrokers would like.

On the company side, the papers of corona vaccine manufacturers came into focus, which had clearly left feathers in the past eight weeks. Biontech gained 5.2 percent and Pfizer 2.0 percent. The two partners have now applied for emergency approval for their corona vaccine for children aged five to eleven. The papers from competitor Moderna increased by 3.5 percent. The biotech company announced that it will invest half a billion US dollars to build a vaccine production facility in Africa.

Levi Strauss’ shares were also up 8.9 percent asked after the jeans manufacturer had presented quarterly figures after the previous evening and raised the annual outlook. The shares of the oil field service provider Schlumberger benefited with plus 4.0 percent from a buy recommendation by the bank JPMorgan./ck/he

Source: dpa-AFX

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