IPO, Corona, stimuli: hope for Corona aid keeps US investors happy

IPO, corona, stimuli
Hope for Corona aid keeps US investors happy

Slightly down, slightly up: on Wall Street, prices tend to be inconsistent. The Corona issue determines the mood of investors and gives hope for further help. An IPO succeeds impressively in this market environment.

The hope that an aid package would be passed for the US economy, which is badly suffering from the corona pandemic, has prevented major price losses on the US stock exchanges. The Dow Jones-Index of the standard values ​​dropped 0.2 percent to 29,999.26 points. The S&P 500 lost 0.1 percent to 3668.08 counters, the Nasdaq Composite on the other hand rose by 0.5 percent to 12,405.81 points. In Frankfurt it was Dax 0.3 percent weaker at 13,295.73 points.

Dow Jones
Dow Jones 29,999.26

US Treasury Secretary Steven Mnuchin said the Senate negotiations between Republicans and Democrats were "making great strides". They are likely to continue throughout the day. "The market is very fixated that there will be an agreement pretty soon," said Ryan Detrick, chief marketing strategist at LPL Financial.

Burden labor market data

However, the mood was depressed by the surprising increase in the Initial jobless claims: Last week, so many people applied for assistance for the first time than in almost three months. The sluggish recovery on the labor market and the recent increase in new corona infections are increasing the pressure on MPs to get further help on the way. "The trend in initial applications was not good, and that seems understandable when we look at the path of the virus, the increasing number of cases and the increasing occupancy of the hospitals," said Art Hogan, chief market strategist at the broker National Securities.

The corona vaccine from Pfizer and the Mainz company Biontech: The FDA Advisory Committee met and should make its recommendation on the drug. The FDA will make a decision on emergency approval based on this recommendation in the next few days. It is believed that if the vote is positive over the weekend, the first people in the USA will be able to be vaccinated. Pfizer shares were quoted slightly weaker, BioNTech shares gained 5.5 percent.

Airbnb IPO successful

The winners also included oil stocks: Chevron was at the top of the Dow with a plus of 3.2 percent. For the first time since the beginning of March, Brent North Sea oil cost more than $ 50 a barrel. Hopes for mass vaccinations and delivery problems in Iraq drove the course higher, said David Madden, a market analyst at brokerage firm CMC Markets. Two oil fields in Iraq were hit by an attack.

The Zimmer placement platform made an impressive stock market debut Airbnb: On the first day of trading, the shares jumped 142 percent and went 112.8 percent harder from trading. At a price of $ 165, the company was worth more than $ 100 billion at times. It's the biggest IPO of the year in the US.

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