Because Democrats and Republicans cannot agree, US President Trump orders the new Corona stimulus package. The prospect of further aid for the troubled economy let the Dow Jones climb strongly.
The US leading index, the Dow, reached its highest level in more than five months on Monday. Shortly after the start of trading, the Wall Street Index left its early June high behind and climbed towards 28,000 points. Support came from the prospect of further aid for the troubled US economy.
At the close of trading it went for the Dow Jones Industrial then up by 1.30 percent 27,791.44 points – highest level since February 25, before the corona panic sent the stock markets steeply downhill. The market breadth S&P 500 moved up by 0.27 percent 3360.47 counter before, during the Nasdaq 100 by 0.49 percent 11,085.17 counters sank. The technology-heavy Nasdaq selection index had only reached a new record high on Thursday.
On Sunday, US President Donald Trump had the new one Corona stimulus package ordered by decreebecause negotiations between Republicans and Democrats in Congress had failed. Trump promised much-needed aid, including more money for millions of unemployed. Critics complain that the US Congress has yet to approve. The tensions between the US and China in the dispute over the restriction of Hong Kong's autonomy were largely ignored. Among the 30 individual values, Apple gained 1.5 percent and rose again towards Thursday's record high.
Microsoft however, they continued to decline at minus 2.0 percent and were the bottom of the index. They had already weakened on Friday, but also only reached a record level at the beginning of August. Nike shares gained 3.5 percent and rose in the wake of Foot Locker. The US retail chain for sports shoes surprised the market with statements about a boom in sales of new sneakers. Food Locker therefore expects an increase in sales and a quarterly profit. Dealers saw this as a glimmer of hope for the entire industry, which is suffering badly from the Corona crisis. Foot Locker's stocks jumped 7.8 percent on the Nyse.
The tourism industry became the hotel chain Marriott and the cruise line Royal Caribbean Quarterly figures announced. Despite disastrous annual reports, both stocks rose: Marriott by 3.6 percent and Royal Caribbean Cruises by 10.0 percent. However, since the beginning of the year both have lost a lot of value and have hardly recovered.
Fedex, supported by a buy recommendation from the analyst firm Bernstein, rose by 9.0 percent. The focus was also on the Eastman Kodak papers, which sagged by almost 28 percent. A planned loan in the high three-digit million US dollar range has been put on hold by the US government.
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