Monday March 22, 2021
Lost days shaken off
Biden’s corona policy is inspiring Wall Street
There was little positive news from the United States as the pandemic progressed. But that has changed since Joe Biden has been in the White House. The infection situation is noticeably easing. The latest reports on vaccination progress are well received on Wall Street.
The falling yields on the US bond market and positive Corona news have given the New York stock exchanges a boost. The leading index Dow Jones Industrial quickly shook off his moderate initial losses and worked his way up. In the end, he claimed a plus of 0.32 percent to 32,731.20 points, with which he stabilized somewhat after two days of losses. Before that, the stock market barometer had broken the 33,000 point mark for the first time in its long history.
For the broad market S&P 500 At the beginning of the week it ultimately rose by 0.70 percent to 3940.59 points. Of the Nasdaq 100 even rose by 1.71 percent to 13,086.51 points and thus somewhat shortened its gap to the other two indices. While these have gained just under seven and five percent respectively since the beginning of the year, it is just around one and a half percent for the technology-heavy selection index.
The number of New corona infections in the United States continues to decline. Since US President Joe Biden took office almost two months ago, more than 100 million vaccine doses against the coronavirus have now been administered. So the vaccinations went much faster than expected, because Biden had specified the first 100 days of his term of office and thus the end of April as the period for this amount.
Tesla’s course is recovering significantly
At the beginning of the week, there was only price moving company news from the second row. That Jet blue wants to issue a convertible bond, pushed the shares of the low-cost airline with around eight and a half percent in the red. In contrast, the shares jumped from Kansas City Southern by a good eleven percent while Canadian Pacific Railway fell by 5.4 percent. The Canadian railroad company plans to take over Kansas City Southern for $ 25 billion in shares and cash. The aim is to create the first rail network from a single source that connects Canada, the USA and Mexico.
At T-Mobile US the shareholders were able to look forward to a price increase of around one and a half percent. The US mobile communications subsidiary of Deutsche Telekom is now a member of the S&P 100 index. With the recently ailing papers of the electric car manufacturer Tesla there was a significant price recovery of 2.3 percent to 670 US dollars. They benefited from statements by the well-known fund manager Cathie Wood, who believes the stock will rise to $ 3,000 by 2025.
You can read about the trading day on the Frankfurt trading floor in our Exchange Day.
Of the Euro ended its most recent period of weakness with moderate gains, costing $ 1.1937 in New York. The European Central Bank (ECB) had set the reference rate at 1.1926 (Friday: 1.1891) dollars and the dollar cost 0.8385 (0.8410) euros. US Treasuries gained again after the most recent losses: The futures contract for ten-year Treasuries (T-Note-Future) rose by 0.24 percent to 131.54 points. In return, their return fell to 1.69 percent.
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