MARKETS USA / Corona trading drives Nasdaq to record high

NEW YORK (Dow Jones) – Wall Street is sloping on Friday. While technology stocks are showing premiums, the Dow Jones index is in the red. In view of the new corona restrictions in many parts of the world, traders are talking about a resurgence of the corona trade, in which technology stocks are particularly in demand. The technology-heavy Nasdaq composite has reached a record high. The fear of new restrictions is also having an effect in other ways, with traders talking about an escape to supposed security. This is how US pensions are rising – and so is the dollar. Around noon, New York time, the Dow Jones index dropped 0.5 percent to 35,686 points, the S&P 500 was just up and the Nasdaq composite gained 0.7 percent.

“I think we’re seeing a knee-jerk reaction to the Austrian lockdown announcement that reflects fear rather than reality,” says Oanda’s market analyst Craig Erlam. Other participants also remain (still) relaxed in view of the exploding new infections and the measures decided in the USA and Europe. “It feels like complete lockdowns and closings are the last resort and we may not have to think about closing the world anymore. There will be certain measures, but that won’t change the overall outlook for the corporate sector,” says fund manager Georgina Taylor by Invesco.

Business figures continue to make courses

In addition to the Corona headlines, investors also have to process business figures on the stock market. Applied Materials is 2.8 percent south and Workday 1.3 percent. Applied Materials failed to meet analyst expectations due to problems in the supply chain, despite significant profits and sales. The outlook was also disappointing. At Workday, on the other hand, the market apparently operates according to the motto that good is not good enough, because the business figures here exceeded market expectations. Workday also raised the outlook. The company also announced a takeover worth $ 510 million.

With the software stock Intuit, profit and sales figures that are clearly above expectations are rewarded with a plus of 10.1 percent. Palo Alto Networks give 0.2 percent. The cybersecurity expert reported sales that were better than expected, but at the same time increased the loss. However, the result was exactly in line with market expectations. The titles of the fashion retailer Farfetch collapse after weak business figures by 11.4 percent.

Investors on the run

On the foreign exchange market, the dollar is rising across the board, and the dollar index is up 0.3 percent. The background to this is the movement of refugees to supposedly “safe” ports, which include the greenback as well as the yen. The Japanese yen is also rising.

US bonds are therefore also in demand, and returns are coming under great pressure as a result. When it comes to the gold price, the dollar rally and falling market interest rates are balanced. While the firm dollar is taking a toll, falling yields support the interest-free precious metal. The gold price rises only slightly with the corona worries.

The headlines from Austria, Germany and other regions of the world about the drastic tightening of the corona measures are fueling economic and thus demand fears on the oil market – prices are falling massively.


INDEX last +/-% absolute +/-% YTD

DJIA 35.686,12 -0.5% -184,83 + 16,6%

S&P-500 4.708,63 +0,1% 4,09 +25,4%

Nasdaq-Comp. 16.104,07 +0,7% 110,36 +25,0%

Nasdaq-100 16.610,01 +0,8% 127,04 +28,9%

US bonds

Maturity Yield Bp to VT Yield VT +/- Bp YTD

2 years 0.46 -3.6 0.50 34.7

5 years 1.18 -4.6 1.22 81.6

7 years 1.42 -5.3 1.47 77.0

10 years 1.53 -6.1 1.59 61.0

30 years 1.91 -6.5 1.97 25.9

DEVICES last +/-% Fri, 8:23 pm Thu, 17:32%% YTD

EUR/USD 1,1317 -0,5% 1,1353 1,1351 -7,3%

EUR/JPY 128,75 -0,9% 129,83 129,69 +2,1%

EUR/CHF 1,0483 -0,5% 1,0515 1,0517 -3,0%

EUR/GBP 0,8399 -0,3% 0,8407 0,8422 -6,0%

USD/JPY 113,73 -0,5% 114,33 114,26 +10,1%

GBP/USD 1,3473 -0,2% 1,3486 1,3480 -1,4%

USD/CNH (Offshore) 6,3859 +0,1% 6,3860 6,3828 -1,8%


BTC/USD 57,980.51 +2.5% 56,264.51 57,477.26 +99.6%

ROHOEL zuletzt VT-Settl. +/- % +/- USD % YTD

WTI/Nymex 75,50 79,01 -4,4% -3,51 +58,4%

Brent/ICE 78,36 81,24 -3,5% -2,88 n.def.

METALS last previous day +/-% +/- USD% YTD

Gold (Spot) 1.858,18 1.858,89 -0,0% -0,72 -2,1%

Silver (spot) 24.90 24.83 + 0.3% +0.08 -5.7%

Platinum (Spot) 1.038.95 1.051.19 -1.2% -12.24 -2.9%

Kupfer-Future 4,39 4,30 +2,1% +0,09 +24,7%


Contact the author: [email protected]


(END) Dow Jones Newswires

November 19, 2021 12:11 ET (17:11 GMT)

Leave A Comment