Bitcoin soaring: Wall Street ends nervous week in the red

Bitcoin soaring
Wall Street ends a nervous week in the red

After a series of losses lasting several days, US investors are again only touching stocks with pointed fingers. The euphoria is slowed down, say experts. Bitcoin, on the other hand, has once again been unleashed.

Investors on Wall Street continued to be nervous. Of the Dow Jones Industrial After its weakness the day before, it initially returned with a new record of 31,648 points, but then the tailwind was lost under the impression that bond yields rose again. With 31,494.32 points, he then crossed the finish line unchanged in percentage terms. On a weekly basis, it increased by 0.1 percent.

S&P 500 3,907.56

Investors continued to look tense at the interest rate markets because of the recently noticeable inflation concerns. The ongoing vaccination campaign supported the expectation of an early recovery from the Corona crisis. In addition to lavish government aid and a loose interest rate policy, this is also a reason for worries about future inflation, which is currently driving up bond yields. "If this trend holds, the stock market would then be a little less without alternative," said market observer Jochen Stanzl from CMC Markets.

Other indices ended trading in the red after early gains. The broad one S&P 500 lost 0.19 percent to 3906.71 points. The technology-heavy one Nasdaq 100 fell 0.42 percent to 13,580.78 points. He posted the fourth loss day in a row. The sometimes high valuations, especially for technology-heavy stocks, dampened the euphoria. "Investors are not really withdrawing from the market, but they are becoming more cautious," said chief economist Peter Cardillo of asset manager Spartan Capital Securities.

Bitcoin 55,551.25

Caused a sensation Bitcoin: The cyber currency jumped to a record high of over $ 54,000 in the course of the day. For the first time, according to data provider Coinmarketcap, all Bitcoin in circulation were worth more than a trillion dollars. The weekly plus was eleven percent, since the beginning of the month the increase has been 64 percent. While some analysts see further upside potential, critics warn of the risks of highly volatile digital currencies, which are hardly used in the real economy, but mainly serve as fodder for speculators. The current prices are significantly higher than the fair value, it said at JP Morgan.

Bitcoin proponents, on the other hand, argue that the cryptocurrency is "digital gold" with which investors can hedge against the rising risk of inflation. The record hunt also whetted investors' appetites for US companies that make their money with cryptocurrencies and blockchain technologies. Above all it went for the papers of Riot blockchain up by more than fourteen percent. Shares in Marathon Patent Group, Silvergate Capital and Overstock.Com rose up to eight percent.

You can read about trading on the Frankfurt floor in our stock exchange day.

On the stock market Applied Materials brighten sentiment in the semiconductor sector with an optimistic outlook. The chip industry supplier expects sales for the current second quarter to exceed analyst estimates. The shares climbed six percent. An increased profit forecast for the current year gave a boost Deere & Co. The shares of the agricultural machinery manufacturer rose by six percent. Deere had more than doubled its profits in the first quarter, largely thanks to stronger demand for agricultural and construction equipment.

After a legal defeat in Great Britain fell About on the other hand by 0.7 percent. The Supreme Court in London ruled that drivers have the right to social standards such as paid holidays and breaks, similar to employees. Uber sees its drivers as self-employed and sees itself merely as a brokerage platform for driving services.


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