There is still a lot of worry on Wall Street. There is the corona pandemic. There is the dispute with China. And the dealers expect a huge slump in economic output. And the courses? Rise again.
After two trading days with significant discounts, Wall Street went up slightly. In the run-up to the quarterly figures, technology stocks were in greater demand over the course of the week. Overall, however, there was a certain reluctance to look at the numbers and dates coming up over the course of the week.
A key focus is likely to be on the US Federal Reserve. Market participants are betting that the Fed will reaffirm its stance on low interest rates for a longer period on Wednesday. In addition, it was hoped for an agreement for new aid payments to unemployed people in the United States.
Reporting season with Apple and Amazon
The reporting season will start again from Tuesday. In total, 180 companies from the S&P 500 will present their figures over the course of the week. These include the technology groups Apple, Facebook, Alphabet and Amazon. Their shares rose in advance. Amazon won 1.5 percent and has been up about 66 percent since the beginning of the year. Alphabet rose 1.4 percent and Apple 2.4 percent. The Facebook share gained 1.2 percent.
The technology stocks led the market, and the corresponding index in the S&P 500 improved by 2.3 percent. At the other end of the price list were financial stocks, whose sub-index lost 1.6 percent.
Of the Dow Jones index increased by 0.4 percent to 26,585 points. Of the S&P 500 index improved by 0.7 percent to 3,239 points and the Nasdaq composite increased by 1.7 percent to 10,536 points. There were 1,786 (Friday: 1,020) course winners and 1,218 (1,930) losers on the Nyse. 60 (114) titles closed unchanged.
The broken relationship between the United States and China remained in focus. Participants fear that US President Donald Trump will keep the conflict simmering for campaign reasons. The biggest concern on the stock exchanges was the corona pandemic, which is currently raging in the United States. But the number of infections is also increasing significantly in other countries.
On the economic side, incoming orders for durable goods sent a positive signal because they were stronger than expected. But it will be more exciting on Friday when the gross domestic product is due for the second quarter. Experts expect a drop of around 35 percent here.
Gold price climbs to all-time high
The music played mainly on the gold and foreign exchange markets. gold has significantly surpassed its old all-time high of 2011 at $ 1,921 per troy ounce and rose to $ 1,939, a daily gain of 2.0 percent. The new all-time high was marked at $ 1,946. The growing tensions between the USA and China, but above all the fear of a second wave of corona in Europe and Asia, were identified as drivers in the trade. The current weakness of the dollar is also currently helping the gold price.
However, the greenback recovered somewhat from its lows on the currency market. Of the Euro rose to $ 1.1746. It fell against the Japanese currency dollar to 105.43 yen. The dollar index fell to a two-year low and lost 0.8 percent. For one thing, the dollar is under pressure because the corona pandemic in the United States is tackled less efficiently than in most other countries or regions. The euro rally had also picked up pace when the EU countries agreed on a generous aid package.
The Oil prices recovered from interim losses and turned positive. Traders mainly referred to the weak dollar as a justification, which has pushed concerns about excess supply into the background. However, concerns about a decline in demand due to the coronavirus pandemic would have prevented a stronger increase, the news said. The price of a barrel of the US variety WTI rose 0.8 percent to $ 41.61, for Brent it went up 0.3 percent to $ 43.46.
Bonds were in the meantime slightly sought after with the existing uncertainties, but gave up the profits completely again in the course. The ten-year return rose 1.3 basis points to 0.60 percent.
Hasbro crash by numbers
Hasbro had previously reported numbers. Although the toy manufacturer increased its sales of computer games drastically because of Corona, the total turnover dropped by 29 percent – because of the closed retail stores, but also because of problems in the supply chain. The share was down 7.4 percent.
On the other hand, the supermarket chain Albertsons seems to be profiting from the coronavirus pandemic. Like-for-like sales increased by 26.5 percent in the first quarter. Apparently, investors expected more. The stock lost 5.4 percent.
. (tagsToTranslate) Wall Street (t) stock trading