Bumble makes a strong debut: Bitcoin climbs to new record highs

Bumble makes a strong debut
Bitcoin climbs to new record highs

Tech stocks are among the day's winners on Wall Street. While the increasing acceptance of Bitcoin is catapulting the price of the cryptocurrency up again, the dating app Bumble is making a strong stock market debut. Transportation service provider Uber, on the other hand, has lost billions.

The sideways movement of the previous days with moderate fluctuations on both sides has continued, with some momentum emerging again at the end of trading. Technology stocks on Wall Street fared slightly better than the broader market. Of the Bitcoin marked new record highs because it is gaining more and more acceptance in the corporate world.

The expected trillion-dollar stimulus package from the new US government continued to create a generally optimistic mood. For many market participants, disappointingly unusual weekly labor market data only underscored its necessity.

S&P 500 3,917.53

"Large numbers of jobs have still been lost and it is clear that more government aid is needed," said Shoqat Bunglawala of Goldman Sachs Asset Management. The day before, US Federal Reserve Chairman Jerome Powell had assured that the US Federal Reserve would continue to support the economy with low interest rates and bond purchases, but that it was now the duty of the state to help.

Of the Dow Jones Index closed slightly lower at 31,430 points. Of the S&P 500 increased by 0.2 percent, the more technology-intensive Nasdaq-Indices gained up to 0.6 percent too.

Uber continues to suffer from the corona pandemic

Impetus for the individual courses came again primarily from the reporting season. This has been "phenomenal" so far, said Daniel Morris of BNP Paribas Asset Management. Nevertheless, some price movements were again best explained by profit-taking.

Kraft Heinz
Kraft Heinz 29.23

The beverage manufacturer Pepsi (-2.0%) exceeded market expectations in the fourth quarter of 2020 and announced a dividend increase. Tyson Foods (-5.7%) exceeded expectations with the profit, but sales of the chicken meat producer disappointed.

Kraft Heinz gained 4.9 percent. The tailwind for the share of the food giant came on the one hand from exceeded expectations and on the other hand from the sale of the nut business Planters for $ 3.35 billion to the competitor Hormel Foods (-3.3%). The KelloggShares fell 1.9 percent after disappointing business figures.

The driving service provider About (-3.9%) saw a sharp drop in sales and a loss of almost $ 1 billion due to the Corona crisis. Game providers, on the other hand, are among the beneficiaries of the pandemic Zynga (+ 7.3%). In the fourth quarter, Zynga achieved records in revenue and bookings.

An unexpectedly optimistic outlook for the current first quarter helped the share of Zillow, an online marketplace for real estate, to a price jump of almost 18 percent. The dating app provider's share celebrated a spectacular stock market debut Bumble. Placed at $ 43, the first rate was already at $ 76. Most recently, the paper was around $ 70.31, an increase of almost 63 percent.

The oil price rally appears to be over

Bitcoin
Bitcoin 48,072.00

Bank of New York Mellon gained 0.9 percent. The bank had announced that it would also be involved in Bitcoin in the future at the request of customers in the asset business. Something similar was also from Mastercard (plus 2.6 percent). Tesla provided the latest boost in Bitcoin with the announcement that it would accept the digital currency as a means of payment in the future.

The increasing acceptance of the Bitcoin drove its course to new record highs. A good 48,700 dollars were due for the cryptocurrency during the day, a good 7 percent more than the day before. At the turn of the year the price was still at $ 30,000, the 20,000 mark it had broken in mid-December.

Of the dollar After the weaker previous days, US Federal Reserve Chairman Powell signaled once again that monetary policy would be loose for a longer period of time on Wednesday.

On the oil market, prices fell by a good 1 percent after the eight-day one-way street movement. The gold fell by $ 17 to 1,826 a troy ounce. The rise in yields on the bond market may also have contributed to this, because interest-free gold becomes less attractive as an investment. The ten-year return rose 3 basis points to 1.16 percent.

. (tagsToTranslate) Wall Street (t) Bitcoin (t) stock trading