Bumble continues on the road to success: Dow-Index is taking a break

Friday February 12, 2021

Bumble continues on the road to success
Dow Index is taking a break

Due to a few weak heavyweights, the Dow Jones index closed almost unchanged at the end of the week. Meanwhile, Wall Street newcomer Bumble is on its way up. Payment service provider PayPal is also making up ground.

After an up and down, the indexes on Wall Street closed with gains. The prices picked up a bit in late trading, with the three leading indices reaching new all-time highs on a closing price basis. The sideways movement that had already been observed in the past few days dissolved upwards. On a weekly basis, profits of a good 1 percent were achieved.

On the economic side, US consumer confidence was on the agenda for February, which unexpectedly fell to a six-month low, but that did not cause movement. Of the Dow Jones-Index stayed because of some ailing heavyweights, like Walt Disney or Unitedhealth, behind the other indices. He gained 0.1 percent to 31,458 points. Of the S&P 500 again Nasdaq composite gained 0.5 percent each.

The expected economic aid package from the US government and the slight relaxation on the Corona front remained the main topics, especially since the vaccination campaign in the US is now making progress with 48 million doses administered. Added to this is the reporting season for companies, which continues to deliver mostly good results. Meanwhile, the US Federal Reserve continues to hold its back free with the renewed signal from Fed Chairman Jerome Powell that monetary policy will remain supportive for a long time.

Disney loses despite streaming boom

On the company side, the DisneyShare in focus. The entertainment group surprised positively in its most recent quarter thanks to a stormy customer growth at its streaming business Disney +. For the share, which had already performed well recently, it was still 1.5 percent down. The online travel agency Expedia As feared, (-2.3%) felt the effects of the corona pandemic hard in its fourth quarter, with a slump in bookings and sales.

It looked better in terms of course Moderna (+0.2 percent). The pharmaceutical company has sold an additional 100 million doses of its corona vaccine to the US government. Paypal increased by 4.7 percent. Company boss Dan Schulman expects the payment service provider to nearly double the number of active accounts by 2025.

Dating app provider's share Bumble, which made its stock market debut on Thursday by over 63 percent, but closed well below the daily high, rose by a good 7 percent. The share of General Electric gained 1.9 percent. The company's aviation leasing division plans to acquire 100 machines from Boeing and other manufacturers this year. The division called Gecas fell into the red in the previous year due to canceled orders. Boeing gained 0.1 percent.

Gold price suffers from rising returns

Of the dollar was almost unchanged. Also at Bitcoin calm has returned after the recent turbulence. Bond prices fell, so yields rose. The rising inflation forecasts have been bothering the prices for a long time. New data show that US consumer expectations regarding inflation in the coming year rose to 3.3 from 3.0 percent in February compared to the previous month.

At the Oil market it went up again after losing the day before. According to a media report, the Houthi rebels in Yemen reportedly attacked Abha International Airport in Saudi Arabia with drones. Participants also attributed the strength to the planned stimulus package. In addition, new data from Baker Hughes showed that the number of active rigs had risen to a nine-month high, demonstrating the increased demand. Of the Gold price sold around $ 5 per troy ounce to 1,821. The precious metal was depressed by the rising yields, which make interest-free gold less attractive.