Gold over $ 2000 for the first time: Oil price rises after explosions in Beirut

The explosions in Beirut also affect what is happening on Wall Street. Oil prices are rising after the first reports from the Lebanese capital. The price of gold is also rising and reaching a new record.

After the US stock markets appeared inconsistent for long stretches, in the end it was enough for a new plus. Observers explained the recent price gains with the previously convincing balance sheet season and the hope for a new Corona aid package.

Of the Dow Jones index won 0.6 percent to 26,829 points, the S&P 500 increased by 0.4 percent. Of the Nasdaq composite also closed 0.4 percent higher at a new record high, which was only a few points above that of Monday.

Political risks remain high, even as Republicans and Democrats continue to move closer to finding a compromise to extend Corona aid. Nothing is dry yet and the road to understanding remains bumpy. "The market believes the US economy cannot yet stand on its own two feet. There seems to be agreement that more needs to be done. It is only about the form of this package," said JP Morgan market strategist Hugh Gimber Asset management.

oil turned positive after initial losses after a severe explosion in the port of the Lebanese capital Beirut. The cause was initially unclear. The barrel price for US light oil of the variety WTI however, in response to the news, climbed 1.7 percent to $ 41.70, the European reference oil of the variety Brent rose 1.2 percent to $ 44.43. gold also received a boost from the news from Beirut. The price of a troy ounce climbed over $ 2,000 for the first time. In late US trading, the precious metal was 2 percent higher at $ 2,017.

Of the dollar showed strength at first but then came back. The ICE dollar index fell 0.1 percent. Market participants referred to the ongoing negotiations for a new corona aid package in the USA. The euro was trading around $ 1.18 in late US trade.

The stock market rose Boeing by 1.7 percent. For the first time, the US aviation authorities had publicly submitted the full range of change requests to re-approve the Boeing 737 MAX. However, many of the proposed design changes and additional equipment tests follow known security improvements that Boeing has already implemented.

The Boeing supplier's stock Spirit Aerosystems fell 1.8 percent after the company reported a surprisingly high loss. Spirit not only blamed the corona pandemic, but also the ban on flying the 737 Max, which caused the business with Boeing to collapse.

Game maker Take-Two Interactive saw a sales boom of 54 percent in the first quarter. The stock rose by 5.9 percent. The share of KLA lost 1.3 percent. The semiconductor equipment supplier has exceeded earnings estimates and raised the dividend. The titles had already increased before the business ID was published.

The insurer American International Group (AIG) slipped into the red in the second quarter – burdened by significant costs related to the corona pandemic. The stock dropped 7.5 percent. YRC Worldwide jumped up 6.6 percent after the loss of the debt-ridden transport company was not as bad as feared.