US stock exchanges continue to grow: Dow Jones with new record, longest profit streak since August

US stock exchanges continue to grow: Dow Jones with new record, longest profit streak since August

Dow Jones gains another 0.53 percent to the new record high of 32,953.46 points at the start of the week.

9.25 p.m., March 15, 2021

© (c) AP (Nicole Pereira)

The New York stock exchanges started the new trading week with profits again. The Dow Jones gained another 0.53 percent to 32,953.46 points. The world’s most famous stock market index thus once again marked a new record high. In addition, he completed the 7th consecutive winning day. According to the US financial information service CNBC, this is the longest winning streak since August.

The S&P 500 Index, which consists of 500 selected US companies, rose by 0.65 percent on 3,968.94 counters. The technology index Nasdaq Composite Index gained 1.05 percent on 13,459.71 counters.

The optimism about the corona aid package for the US economy signed by US President Joe Biden as well as better than expected by experts Economic data had put everyone in a good mood on Wall Street. Surprisingly, the mood in New York industrial companies brightened significantly in March.

Airlines in the focus of investors

Investors bravely took hold of airline stocks. American Airlines and United Airlines papers rallied at the top of the S&P 500 with gains of 7.7 and 8.3 percent, respectively. At an industry conference, company representatives made positive statements about the development in demand.

From a company perspective Pharmaceutical companies were also in focus at the beginning of the week. The shares of Eli Lilly, bottom of the list in the S&P 500, fell by nine percent. Study data on an Alzheimer’s drug had disappointed. For the shares of GenMark Diagnostics it went up a whopping 29.6 percent to 23.98 dollars. Roche plans to acquire the company for US $ 24.05 per share.

Alibaba’s papers lost 0.7 percent. According to a press report, the Chinese Internet giant is under pressure to sell part of its stakes in media companies. The Chinese government is concerned about the company’s influence on public opinion in the country, reported the Wall Street Journal, citing people familiar with the matter.

AMC stocks jumped 26 percent. The Chinese company Dalian Wanda has given up control of the world’s largest cinema chain AMC. At the beginning of March, Dalian Wanda only held a share and voting rights of 9.8 percent.

Leave a Reply

Your email address will not be published. Required fields are marked *