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NEW YORK (dpa-AFX) – Driven by hope for better economic times, the US stock market rose on Tuesday. The Nasdaq 100 index (NASDAQ 100) reached a record over 10,300 points, with records from tech giants such as Apple, Microsoft, Amazon or Facebook setting the pace. At the end, however, the tailwind decreased somewhat: the technology-heavy selection index closed 0.78 percent, up 10 209.81 points. The US leading index Dow Jones Industrial (Dow Jones 30 Industrial) ultimately gained half a percent to 26 156.10 points. In contrast to the Nasdaq index, he still lacks around 13 percent until a new record, which he set over 29,500 points before the Corona crash. The market-wide S&P 500 brought a plus of 0.43 percent to 3131.29 points across the finish line on Tuesday.
Even though concerns about a new wave of infection with the corona virus remained, the hope dominated that the global economy would escape the valley with the easing. This was underpinned on Tuesday by recovered economic data, especially from Europe. And should the economy suffer further setbacks, it was said that investors continued to trust that the governments and central banks would be ready to take further measures.
Relief also prevailed because US President Donald Trump the market calmed with soothing words about the trade conflict with China. The agreement between the two states is completely intact, Donald Trump had in the meantime tried to counter speculations to the contrary. Statements by his trading advisor Peter Navarro gave rise to these.
Among the large Nasdaq stocks, some of which are also listed in the Dow, Microsoft shares strengthened the $ 200 price mark they had skipped the previous day. The titles of the online retailer Amazon and the social network Facebook jumped on the record move.
In percentage terms, however, Apple was ahead of the tech giants with an increase of 2.1 percent. The developer conference WWDC is the focus of the iPhone group this week. The group announced on the previous day that it would use its own processors instead of Intel’s on its Mac computers. Goldman Sachs analyst Rod Hall therefore believes in saving billions.
Banking stocks were also in general demand – a trend that had previously been observed in Europe. According to the purchasing manager data, retailers there argued that if the economy picked up speed, it would revive the credit business of financial institutions. In the Dow, JPMorgan (JPMorgan ChaseCo) shares rose 1.2 percent.
American Airlines, on the other hand, were still in a downward vortex on Tuesday. They dropped by more than six percent. There is still a possible capital increase in the papers of the airline, in which the corona crisis has got into trouble with the entire industry.
Another negative exception on Nasdaq was the shares of chip maker Micron Technology at a discount of 2.6 percent. The experts from BMO Capital had graded the papers to a neutral vote due to diminished prospects in the memory chip industry.
The euro exchange rate is off Tuesday after a surprisingly robust purchasing manager index Euro zone rose above the $ 1.13 mark. In New York trading, $ 1.1305 was last paid for the common currency. The European Central Bank (ECB) had set the reference rate at $ 1.1318 (Monday: 1.1213). The dollar thus cost 0.8836 (0.8918) euros.
Trend-setting ten-year bonds remained unchanged at 99 6/32 points on the US bond market. They paid 0.71 percent / tih / mis
— By Timo Hausdorf, dpa-AFX —