January 28, 2021

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Record highs on Wall Street in the hope of Corona support

Record highs on Wall Street in the hope of Corona support

The stock markets in New York ended at record levels on Friday. The Dow Jones Index, the S&P 500 and the Nasdaq never closed higher. Investors expect more political will for a new corona bailout package given the weaker-than-expected U.S. government job report.

The Dow Jones Index ended with a plus of 0.8 percent and thus reached a level of 30,218.26 points. The broadly based S&P 500 rose 0.9 percent to 3,699.12 points and the Nasdaq technology exchange rose 0.7 percent to 12,464.23 points.

The number of new jobs in the United States in November was significantly lower than a month earlier. With 245,000 new jobs, the lowest level in six months was reached. In addition, the number of new jobs has decreased for five months in a row. With corona infections and deaths rising steadily, investors are counting on politicians to finally be willing to compromise.

Reject Moderna

Moderna fell 3 percent. The pharmaceutical company will deliver 20 million more corona vaccines to the US before the end of the year. Another 85 to 100 million cans will be added in the first quarter of next year. The rest of the world will receive around 15 to 25 million doses in early 2021. They are made in Switzerland. Moderna believes that 500 million vaccines are possible in the next year for the company to scale more.

Pfizer (up 0.6 percent) and BioNTech (up 1.1 percent) announced that they have already made almost all of the vaccines for this year. In doing so, they contradicted a report by The Wall Street Journal that they would have production problems.

Boeing debt burden

Oil companies like Chevron, ExxonMobil and ConocoPhillips rose to 7.5 percent after the oil cartel OPEC and allies like Russia decided to expand oil production less than previously agreed. The price of a barrel of US oil rose 0.9 percent to $ 46.04. Brent oil was 0.6 percent more at $ 49.02 a barrel.

The aircraft manufacturer Boeing was cut by 1.9 percent. CFO Greg Smith said the company will look into equity issues, including reducing its $ 61 billion debt. Boeing will also further reduce production of the 787 Dreamliner in the coming months. The euro was valued at $ 1.2121 compared to $ 1.2142 at the end of European equity markets.