New York, Frankfurt The US stock exchanges rose on Monday. Above all, easing inflation worries drove prices, said traders. The yield on the landmark 10-year US Treasury bond fell to its lowest level in around two weeks.
The development in bond yields was due to the open question of whether US President Joe Biden could implement his stimulus package to the desired extent, said Sam Stovall, chief investment strategist at CFRA Research in New York. Biden had evaporated the infrastructure program he proposed on Friday in the face of opposition resistance. Instead of the previously targeted 2.25 trillion dollars, the Republicans are now being proposed a package with a volume of 1.7 trillion dollars.
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Amazon climbed 1.6 percent. The “Wall Street Journal” had reported that Amazon was about to buy the Hollywood studio MGM Holdings for about nine billion dollars and wanted to expand its possibilities for streaming services.
The prices of the US energy company Cabot Oil & Gas und Cimarexwho each yielded eight percent. Both had previously stated that they wanted to join forces. The new company would have a market value of around $ 17 billion. The industry is currently recovering from a sharp downturn.
The trading volume was below average, with some European markets such as Frankfurt not opening again until Tuesday after the weekend of Pentecost. There are no impulses for one or the other direction. In Asia, the most important markets had hardly changed on Monday and closed with different omens. Market-moving news from the economic or corporate world was in short supply.
More: The Fed is unsettling the markets – but with moderation