Frankfurt, New York Investors are returning to Wall Street encouraged by strong corporate balance sheets. The US standard value index Dow Jones closed on Tuesday 1.6 percent higher to 35,492 points. The technology-heavy Nasdaq advanced 2.4 percent to 15,341 points. The broad S&P 500 gained 1.8 percent to 4649 points.
That was just a reaction to the price losses at the beginning of the week and not the start of a new rally, said stock trader Dennis Dick from the brokerage firm Bright Trading. “There are just too many worries.” One of them is the rapid spread of the omicron variant of the coronavirus, to combat which numerous countries are tightening their pandemic restrictions again. The restrictions would certainly not reach the same extent as the lockdowns of the past few months, said Naeem Aslam, chief market analyst at the brokerage house AvaTrade.
Bargain hunters were also on the prowl in the crude oil market. The US variety WTI rose four percent to $ 71.29 per barrel (159 liters). “Relief rallies like this usually don’t last long,” warned analyst Tamas Varga from the brokerage company PVM. As soon as new contact and travel restrictions are imposed, renewed price losses must be expected
Bitcoin also rose again, gaining 3.5 percent to $ 48,637. “Even if recovery trends can be observed in the short term, the situation is still fragile,” warned analyst Timo Emden from Emden Research. Convinced buyers are currently in short supply on the cryptocurrency market.
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Nevertheless, investors also took hold of stocks from the cryptocurrency sector and companies that deal with the blockchain technology on which Bitcoin & Co is based. The shares of Coinbase, Riot, Marathon, Overstock and Silvergate on Wall Street rose by up to 8.6 percent.
Numbers from Nike and Micron are fueling their industries
One of the favorites was also Nike with a price increase of a good six percent after the sporting goods manufacturer had presented surprisingly strong quarterly results. “The results illustrate that the brand is stronger than ever,” wrote analyst Randal Konik of the Jefferies investment bank. In the slipstream of Nike, rival Under Armor’s titles won three percent.
Micron’s papers gained more than ten percent. “We and many investors had expected a quarterly result above market expectations,” commented analyst Karl Ackerman from Cowen. On the other hand, it comes as a surprise that the outlook is higher. Against this background, other chip manufacturers such as AMD, NVidia or Qualcomm advanced by up to 6.2 percent.
Embraer’s US-listed shares jumped over 15 percent. The Brazilian aircraft manufacturer, known for its business jets, wants to merge its business with electric air taxis via a merger with the corporate shell Zanite on the stock exchanges. As part of this deal, Eve is valued at $ 2.9 billion.
Look at further individual values
Braze: The cloud-based software company reported in its first quarterly report since the IPO in mid-November, a lower-than-expected loss and better-than-expected sales. The share rose 7.4 percent.
Citrix Systems: The shares rose more than 13 percent. Because the news agency Bloomberg had reported that Elliott Investment Management and Vista Equity Partners are considering a joint takeover offer for the software manufacturer.
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Rite Aid: The drugstore chain posted earnings of 15 cents a share, compared to expectations of a quarterly loss of 32 cents a share. Rite Aid also announced a store closure program that will initially see 63 stores with expected annual savings of approximately $ 25 million. The share gained 14 percent.
Moderna: CEO Stephane Bancel told a Swiss newspaper that work on a booster to protect against the Covid-19 Omicron variant could begin within a few weeks. Only minor adjustments are required. Moderna said earlier this week that a booster dose of the current vaccine increases protection against the Omicron variant by 37 times. The Moderna share fell by more than six percent.
Nikola: The electric vehicle maker is set to pay a $ 125 million civil fine to allay allegations by the Securities and Exchange Commission (SEC) that the company has defrauded investors. According to Nikola, all open questions and investigations have been clarified with the comparison. The company’s shares fell one percent.
Solaredge Technologies: The shares of the solar system manufacturer rose by 5.9 percent. The analysis house Cowen called the paper a “top pick”.
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