Intel with price jump: US stock exchanges defy corona worries

Wednesday January 13th 2021

Intel with a leap in course
US stock exchanges defy corona worries

The US stock exchanges posted moderate premiums in the middle of the week. And this despite the fact that the US infection numbers are depressing the mood. Chip developer Intel is one of the big winners.

The persistently high number of coronavirus infections is depressing the mood of US investors. However, the prospect of additional government economic aid prevented exchange rate losses. The Dow Jones ended the day with minus 0.03 percent to 31,060.47 points. The market breadth S&P 500, meanwhile, moved 0.23 percent to 3809.84 points in front. The technology-heavy one Nasdaq 100 continued to build on his early wins and rose by 0.63 percent to 12,973.63 points.

"There is no easing of the pandemic restrictions in sight," said analyst David Madden of the online broker CMC Markets. "That fuels fears of an economic downturn." Many investors have already ticked the current infection situation, said Dan Eye, chief analyst at asset manager Fort Pitt Capital. "They are focused on the situation in the second half of 2021, when vaccines are widely distributed." The planned economic stimulus package of the future US President Joe Biden also encourages them, said market analyst Milan Cutkovic from the brokerage house Axi. "The announcement that the aid package will cost billions of dollars is music to investors' ears."

Meanwhile tried Bitcoin-Investors to sort by the most recent price slide. The oldest and most important Cyber ​​currency was $ 36,198after hitting a record high of just under $ 42,000 just a week ago. Naeem Aslam, chief market analyst of the brokerage house AvaTrade, said that the cryptocurrency could stay above the psychologically important 30,000 mark, making an early attempt to jump over the threshold of 50,000 dollars likely. On the oil market, the US variety WTI failed to hold its initial eleven-month high of $ 53.93 a barrel (159 liters) and fell in price 0.2 percent to $ 52.98. One reason for the sales were statements by Opec General Secretary Mohammad Barkindo, who described global crude oil stocks as "persistently high".

One of the favorites on the US stock market was again General Motors (GM). The automaker's titles rose by 1.9 percent. According to stockbrokers, GM continued to benefit from the planned entry into the business with electrically powered delivery vehicles. At the same time, Lordstown Motors announced that it was in advanced negotiations on a government loan to build electric pickups. The targeted 200 million will be used to convert a former GM factory. Lordstown-Shares then rose by 1.5 percent.

In the hope of a breath of fresh air, investors also stepped in Intel courageously too. The previous head of the software specialist VMware, Pat Gelsinger, is to replace Bob Swan in mid-February. Gelsinger, who started his career at Intel, is a very good choice, praised analyst Stacy Rasgon from asset manager Alliance Bernstein. But it will take a while before the change in leadership becomes noticeable. "The next two or three years are set in stone – no matter who is at the top." Intel shares nevertheless posted one of the largest price jumps in the company's history and rose by a good seven percent.