Dow Jones, S&P 500, Nasdaq Wall Street holds up thanks to vaccine optimism

Dow Jones, S&P 500, Nasdaq Wall Street holds up thanks to vaccine optimism

Dow Jones, S&P 500, Nasdaq Wall Street holds up thanks to vaccine optimism
Source: AP

The hope of a continuation of the US upswing keeps prices high on Wall Street. The leading indices Dow Jones, Nasdaq and S&P 500 defended their latest price gains at the opening on Wednesday and stayed just in positive territory.

The news from Biontech and Pfizer,. “Anything that suggests we’re not facing the same problems we were facing earlier this year is positive for most stocks,” said Rick Meckler, partner at asset manager Cherry Lane. The shares of von and gained 3.4 percent and 2.3 percent respectively.

Also in demand were the titles from Stanley Black & Decker, which were almost five percent more expensive. The tool provider is selling its electronic security systems business to the Swedish security company Securitas for $ 3.2 billion.

Investors are already turning their attention to next week’s meeting of the US Federal Reserve. According to the latest statements by CEO Jerome Powell, it is expected that the central bank will accelerate the reduction of security purchases (the so-called tapering). “On Friday, US consumer prices for November will be published, and a value of 7.0 percent or it’s going to be more bothering for the next week, ”said Jeffrey Halley, senior market analyst at OANDA. The analysts are anticipating an increase of 6.7 percent compared to the previous year.

Look at the individual values

The asset manager is relocating part of their ETF custody. In the future, he no longer wants to have around two trillion dollars in assets held by State Street, but by Citigroup, JP Morgan and Bank of America. The Blackrock share is slightly up at 0.3 percent.

The chip giant Intel, which has been particularly hard hit by the global shortage of semiconductors, expects the problems in the supply chain to persist for a while – until 2023, predicts CEO Patrick Gelsinger at the CEO Council Summit of the Wall Street Journal. Among other things, he justifies his estimate with the fact that the construction of a new factory takes about three years. For the share of the chip manufacturer it goes down by 0.6 percent.

The shares of the luxury house supplier Toll Brothers improved by 1.5 percent. The upward trend was triggered by good numbers. The company’s quarterly profit almost doubled – which clearly exceeded the expectations of the analysts.