Dow Jones closes with a plus: US stock exchanges continue to hunt for records

Friday, February 05, 2021

Dow Jones closes with a plus
US stock exchanges continue to chase records

The record hunt on Wall Street continues: Driven by the new US economic stimulus package, strong labor market figures and vaccine advances at Johnson & Johnson, all major US indices are increasing. Gamestop also posted a strong price jump again.

In anticipation of further economic stimulus, US investors went on the hunt for records again on Friday. A slightly weaker than expected job increase at the beginning of the year fueled speculation on Wall Street about a multi-billion dollar package for the US economy. Ultimately, the Dow Jones by 0.30 percent to 31,148.24 points to. His weekly plus is 3.9 percent. For the S&P 500 was down 0.39 percent to 3886.83 points high. The Nasdaq– Selection index 100 moved up by 0.32 percent to 13,603.96 points in front.

In January 49,000 jobs were created outside of agriculture, economists surveyed by Reuters had guessed 50,000. The figures for the previous month were revised downwards: According to this, 227,000 jobs were cut in December. In a first estimate, the loss was set at 140,000 much lower.

Europe's stock exchanges lost momentum. The Dax went out of trading almost unchanged. You can read more information in our "Stock Exchange Day". With the stock markets going up overall, however, because the fuel for the stock exchanges still consists of "vaccines, economic aid and profit growth for companies," said market analyst Neil Wilson of the trading house Markets.com.

The budget waved through by the Senate provided impetus, which will enable the aid package to be passed in the coming weeks without the support of the Republicans if necessary. US President Joe Biden is aiming for a $ 1.9 trillion program to cushion the effects of the corona pandemic and stimulate the economy. This investor hope was also reflected in a rising oil price: the type of oil Brent won from the North Sea 1.3 percent to $ 59.57 a barrel (159 liters).

The application for emergency approval of a coronavirus vaccine in the US delivered Johnson & Johnson Boost. The health authority wants to discuss this at the end of February. The shares of the pharmaceutical and consumer goods manufacturer gained 1.5 percent. A quarterly result above market expectations Pinterest a record high for the third day in a row. The shares of the Internet platform for images rose more than five percent. Caused a stir again Game stop with a Price jump of more than 19 percent.

The online broker app Robinhood has lifted its temporary and heavily criticized trading restrictions on stocks in the video game retailer and AMC Entertainment. Speculative purchases had recently driven the shares of Gamestop and other stocks to dizzying heights and then allowed them to fluctuate sharply. Small investors had made concerted purchases to force hedge funds to resolve bets on the decline of the GameStop price. US Treasury Secretary Janet Yellen had not drawn any immediate consequences from the price volatility after her meeting with the chief financial regulators.