By midweek, Wall Street remains uneven. While the tech sector is recovering from recent losses, investors in the Dow Jones are holding back politely due to rising infection rates.
The widespread coronavirus pandemic is overshadowing investors' delight at advances in vaccine development. "It's still too early to celebrate the end of the Covid era," said analyst Charalambos Pissouros from brokerage firm JFD. The US standard value index Dow Jones fell 0.1 percent to 29,398 points. The S&P 500 rose 0.8 percent to 3,573 points. The Nasdaq Composite rebounded 2.0 percent to 11,786 points after the latest releases.
The reports on the effectiveness of the corona vaccine from Biontech and Pfizer had raised hopes for a quick return to normal, said analyst Stephen Brennock from brokerage firm PVM. "But first we are facing a difficult winter. The infection rates continue to rise in different parts of the world, including the USA." The general mood remains positive, said fund manager Ross Hutchinson of the wealth manager Aberdeen Standard. "The fact that there are potentially several promising vaccine candidates should be enough to hope for the pandemic restrictions to be lifted."
This was reflected in the oil price. The US variety WTI became more expensive by 0.5 percent to $ 41.55 per barrel (159 liters). Commerzbank analyst Eugen Weinberg said that they are getting additional tailwind from the surprisingly sharp decline in US inventories. In return, more investors ran out of "safe havens" like gold out. The precious metal, which is also used to protect against inflation fell 0.7 percent to $ 1,864 per troy ounce (31.1 grams). This setback will only be temporary, predicted raw materials expert Harshal Barot from the consulting firm Metals Focus. After all, an end to the ultra-loose monetary policy of the major central banks is not yet in sight. In the wake of the falling gold price, precious metal miners also came under selling pressure. The papers of Barrick, AngloGold Ashanti, Agnico Eagle and Gold Fields fell by up to six percent.
In contrast, one of the favorites on the US stock market was Lyft with a Price increase of 1.0 percent. The driving service broker recorded a drop in sales due to the pandemic. It is encouraging, however, that thanks to a strict austerity course, the company wants to continue to break even in the fourth quarter of 2021, commented analyst John Blackledge of asset manager Cowen. Lyft also announced the entry into the food delivery business. Arch-rival shares Aboutwho is already represented in this area with Uber Eats, lost two percent.
Meanwhile, the papers booked from Fuel Tech the biggest leap in the company's history. The exhaust gas cleaning specialist increased quarterly sales by a good 26 percent to $ 8.2 million and made a profit of $ 2.4 million. In the same period last year the company was in the red. Fuel tech title rose 64 percent to $ 1.25.
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