Corporate balance sheets support Wall Street

Frankfurt Encouraging corporate balance sheets attract investors to Wall Street. However, fearing a setback for the global economy, they shied away from even larger purchases. The US standard value index Dow Jones closed 1.2 percent higher on Tuesday at 34,098 points. The tech-heavy Nasdaq advanced 1.4 percent to 11,174 points. The broad S&P 500 gained 1.4 percent to 4003 points.

The mood is again being shaped by the pandemic in China, said Thomas Hayes, manager at wealth manager Great Hill. The government in Beijing is reacting to the increasing number of infections with increased restrictions. This hit the US shares of Chinese companies such as Bilibili, Pinduoduo and JD.com. They lost up to 2.7 percent.