US President Trump is said to be better, and relief is spreading on Wall Street. In particular, there is a demand for a biotech company whose experimental antibodies the doctors at Trump use.
The US stock exchanges reacted on Monday to news about the recovery process of US President Donald Trump, who was ill with the coronavirus, with significant price increases. The leading index Dow Jones Industrial rose 1.68 percent to 28,148.64 points. The broad S&P 500 rose by a similarly strong 1.80 percent to 3408.60 points. It looked even better for the tech-savvy Nasdaq 100 who gained 2.25 percent to 11,509.06 points.
Trump said he wanted to leave the hospital this Monday (local time), where he is being treated for a Covid 19 disease. He feels very good, he wrote on Twitter. With the President's return to the White House, the chances of an agreement between Republicans and Democrats on another US economic stimulus package, as the market said.
The political uncertainty, which had caused heavy losses in large parts of the stock market on Friday, has now eased again noticeably. There were also positive things about the at the beginning of the week US economy: The mood in the service sector surprisingly improved in September.
Plenty There was movement in the pharmaceutical sector to observe. Regeneron Pharmaceuticals gained more than seven percent. In the fight against the virus, US President Donald Trump was treated with experimental antibodies from the biotech company. At the top of the Dow, the stocks of Amgen, a biotech group that recently entered the leading index, gained more than four percent.
The papers popped off among the small caps on the Nasdaq MyoKardia up nearly 58 percent to $ 220.34, while stocks in pharmaceutical company Bristol-Myers Squibb (BMS) advanced 0.8 percent. BMS plans to buy the heart drug maker for $ 13 billion in cash or $ 225 per share.
The shares of among the favorites in the Dow rose by 2.4 percent Caterpillar. The US construction machinery manufacturer is buying the oil and gas business of British pump manufacturer Weir Group for just over 400 million US dollars in cash. Caterpillar is taking advantage of its strong balance sheet to buy the division at a significantly lower valuation, the analysts at RBC wrote.
Of the Euro cost $ 1.1785 after the US market closed. The European Central Bank (ECB) had set the reference rate at 1.1768 (Friday: 1.1730) dollars, the dollar cost 0.8498 (0.8525) euros. US Treasuries fell. The futures contract for ten-year Treasuries (T-Note-Future) lost 0.4 percent to 138.82 points. The ten-year bond yield was 0.773 percent.
. (tagsToTranslate) Economy (t) Dow Jones (t) Wall Street (t) Caterpillar