Intel in the Dow tip: Wall Street on record course at the end of the year

Thursday December 31, 2020

Intel in the Dow tip
Wall Street on record course at year-end

After a weak start, the US indices hit their top again on the last day of the year. As the Dow jumps to a new all-time high, the Nasdaq 100 barely missed that target.

On the last trading day of the current year, US standard values ​​again reached record highs thanks to a final spurt after a largely sluggish business. However, the volume was significantly lower than usual, as important European stock exchanges remained closed on New Year's Eve, as on Christmas Eve.

The Dow Jones nevertheless jumped in the last few minutes of trading to a good 30,637 points, the highest level in its history. At the end of trading, it was up 0.65 percent to 30,606.48 points. The one that maps the broad US stock market S&P 500 also reached a record high with over 3760 points. From trading, it was 0.64 percent higher at 3756.07 meters. For the tech-savvy Nasdaq 100, which narrowly missed another all-time high, ended up 0.33 percent to 12,888.28 points.

Experts refer to the ongoing flood of money from central banks and the economic support provided by various governments as an antithesis to justify the record mood despite Corona. Concerns about the effects of the pandemic have also recently been dampened by the start of vaccinations in some countries. The fear of Covid-19 abruptly ended investors' good mood in February and caused panic at times. There was the Dow Jones Dropped below 19,000 points at the end of March.

Market-moving news from the economic and corporate world were again in short supply on Thursday. The decline in the number of weekly initial jobless claims surprised the experts positively, but did not cause a noticeable reaction on the stock market. Best sector in S&P 500 were utility stocks (+ 1.59%), while energy stocks were at the lower end (-0.81%). The chip giant Intel was at the top of the Dow with a plus of 2.19 percent, while the aircraft manufacturer Boeing in last place with minus 120 percent.

The Euro slipped significantly compared to European early trading and was recently quoted at only 1.2224 US dollars. The European Central Bank (ECB) set the reference rate at 1.2271 (Wednesday: 1.2281) dollars. The dollar cost 0.8149 (0.8143) euros.

The ten-year futures contract placed on the bond market Treasuries (T-Note Future) by 0.04 percent to 138.02 points. The yield on ten-year bonds fell to 0.917 percent.