Thursday, January 21, 2021
For new records
Wall Street is running out of breath
After the course records for the inauguration of the new President Biden, US stocks are taking a break. The leading index Dow Jones Industrial and the market-wide S&P 500 reach highs again in the course of trading, but in the end the profits are again wasted.
After initially setting new records, Wall Street ran out of air the day after the new US President Joe Biden was sworn in. Dow Jones index, the Nasdaq indices and also the market breadth S&P 500 marked new all-time highs shortly after the opening. It is true that the likelihood of this being expected of the market increased US stimulus package the legislature will pass, as some Republican MPs have signaled their approval. "We know a deal is coming, the signs are pretty clear," said chief strategist Luca Paolini of Pictet Asset Management.
But a lot has already been priced in and the new US President Joe Biden must now meet the high expectations. However, his announced courageous fight against the corona pandemic indicates that more restrictions are looming, which initially burdened the economy, according to voices from the trade. The Dow Jones Index turned 12 points in the red to 31,176 points – the S&P 500 won one point and the Nasdaq composite held surcharges of 0.5 percent.
United Airlines crashes
While Alcoa slumped 12.4 percent, United Airlines crashed 5.7 percent. The Alcoa aluminum suppressor had reduced the loss in the fourth quarter thanks to higher prices and performed better than expected, but the company warned that the profit situation could deteriorate again if the sales markets do not recover. United Airlines made a billion-dollar loss in the fourth quarter and expected continued weak demand due to the corona pandemic.
ford soared 6.2 percent. The course climbed to its highest level since January 2018. The company had recently raised considerable funds for the subsidiary, which deals with autonomous driving. In addition, the Deutsche Bank had speculated that Ford could present a more positive than expected outlook when submitting the quarterly figures.
After the fourth quarter figures, the shares of the Oilfield service provider Baker Hughes by 1.5 percent – despite good business figures. On an adjusted basis, the group posted red numbers. The company specializing in cancer drugs Celsion terminated the share purchase agreement with Lincoln Park Capital. In September 2020, Celsion had planned to sell shares worth up to US $ 26 million to LPC over a period of 36 months. Their titles shot up 36.5 percent.
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