New York (dpa) – Pleasing company figures and robust economic data sent the Dow Jones Industrial on a recovery course on Thursday. Like all other highly regarded indices, the Dow closed significantly in positive territory. The situation on the labor market has surprisingly improved significantly.
The number of weekly initial jobless claims fell below for the first time in the Corona crisis ). 000. After a few cloudy days, the leading index Dow rose by 1, 56 percent to 34. 912, 56 points. The S&P 500 won 1, 71 percent on 4438,26 Points. For the technology-heavy Nasdaq 100 it was 1, 88 percent up 15. 052, 42 points up.
facing the health insurer UnitedHealth had raised its profit forecast for this year again after a surprisingly good summer quarter. The shares jumped to a record high and in the end rose by a good four percent.
The drugstore and pharmacy chain Walgreens Boots Alliance had in the final quarter of its financial year 2020 / 21 clearly recovered from the consequences of the corona pandemic. After a subdued start, the papers ultimately soared 7.4 percent and thus took the lead in the Dow. Stockbrokers justified the significant boost in late trading upwards with the fact that the management emphasized the company’s long-term growth prospects in the conference call after the quarterly figures were announced important financial institutions also reported strong leaps in profits. Bank of America and Wells Fargo also benefited in the third quarter from the reversal of provisions that they had set up in the Corona year 2020 with a view to looming loan defaults. Because the economy is recovering from the crisis, and it is foreseeable that not as many loans will default as had been feared in the meantime. The money houses Morgan Stanley and Citigroup also increased their profits significantly.
Nevertheless, the reaction of investors was mixed. While Bank of America’s shares rose 4.5 percent and Morgan Stanley’s 2.5 percent, Citigroup’s shares rose by just 0.8 percent. Wells Fargo shares fell 1.6 percent. This bank saw its earnings decline. In addition, the scandal surrounding bogus account openings once again had a negative impact.
Outside the reporting season, Boeing’s shares fell by around two percent at the end of the Dow. The series of problems with the breakdown jet 787 “Dreamliner” does not stop. Now a supplier announced that some components were not manufactured correctly.
The shares of Macy’s gained almost three percent. According to a report in the Wall Street Journal, the activist investor Jana Partners has joined the department store chain. He is demanding that Macy’s disconnect from its online activities in order to uncover hidden values.
The euro benefited somewhat from broad-based US dollar weakness and was most recently trading at 1, 1598 dollars. The European Central Bank had previously set the reference rate at 1, 1602 (Wednesday: 1, 1562) dollar. The dollar cost 0, 8619 (0, 8649) euros.
On the US bond market, the futures contract for ten-year Treasuries (T-Note -Future) to its previous day’s profits and rose by 0, 21 percent to 131,50 Points. Ten-year paper yielded 1. 50 percent and thus a little further below the five-month high, which this week was 1. 63 percent was reached.