Monday 14 December 2020
Despite the start of the vaccination
Dow Jones slips below the 30,000 mark
At the start of the week, the US stock exchanges are split in two. Defaults are selling while the technology-heavy Nasdaq indices rise. The vaccination start, however, cannot give the leading index enough momentum.
The start of the corona vaccinations in the US and the prospect of a billion-dollar aid package for the US economy only drove prices on Wall Street for a short time. In the course of the year, after another record high, the leading index turned Dow Jones Industrial into the minus that in the end 0.62 percent – to 29,861.55 points. The Dow slipped back below the 30,000 mark. The market breadth S&P 500 gave around 0.44 percent to 3647.49 points after. For the tech-savvy Nasdaq 100 it was, however by 0.70 percent to 12,462.21 points upwards. A billion dollar takeover in the pharmaceutical sector let investors access the pharmaceutical and biotechnology stocks contained in the Nasdaq 100, which drove the selection index up.
In New York, a nurse received the first dose of the corona vaccine from Pfizer and Biontech to applause after the US pharmaceutical regulator gave the FDA the green light on Friday. "There's no question that the market is very bullish as the vaccine is finally shipping," said Thomas Hayes, manager at asset management company Great Hill Capital. The vaccine is seen as a way out of the pandemic that has cost the lives of more than a million people worldwide and has placed a heavy burden on economies and societies.
With a Plus of almost 30 percent the shares of the pharmaceutical company reacted Alexion on an offer to buy from the British Astrazeneca group. Astrazeneca plans to put $ 39 billion in cash and stocks on the table, expanding its immunology and rare disease business. The premium is very generous, said David Madden, a market analyst at brokerage firm CMC Markets. Great Hills expert Hayes sees good news in the offer: "The fact that we are seeing this type of large merger is an indication that more could come."
In Frankfurt it was Dax 0.8 percent firmer at 13,223.16 points gone off the market. You can read all the important news about what is happening on the German stock exchange in our "Stock Exchange Day".
.