Frankfurt Strong job data and encouraging test results for a Pfizer coronavirus drug supported U.S. exchanges on Friday. All three selection indices left the market with fresh records. The Dow Jones index closed 0.6 percent higher to 36,327 points. The technology-heavy Nasdaq advanced 0.2 percent to 15,971 points. The broad S&P 500 gained 0.4 percent to 4697 points.
In October, 531,000 new jobs outside of agriculture were created in the USA, analysts had only expected 450,000. This provided further evidence, according to traders, that the US economy is picking up momentum early in the fourth quarter. “It confirms that the economy is on the right footing and there is a chance that the Christmas rally could be one of the strongest in the recent past,” said Peter Essele, director of portfolio management at the wealth manager Commonwealth Financial Network.
On the whole, it helped that the US economy created more jobs than expected in October. Stockbrokers saw this as confirmation that the economic recovery is advancing. “The employment engine is running,” commented Bernd Krampen from NordLB. However, concerns arose over the course that the strength of the job market could put pressure on the US Federal Reserve.
Investors were in the mood to buy, according to which a Pfizer drug reduced the likelihood of severe corona courses by 89 percent. The pharmaceutical giant’s stocks jumped nearly eleven, while vaccine makers Moderna and Biontech fell 16.5 and 20.9 percent, respectively.
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“This is seen as a game changer,” said a stockbroker. This applies above all to the industries particularly affected by the pandemic restrictions. “It’s a quick and effective solution … when you get a diagnosis just take the pill and you’re back on the job. The market loves it, the travel and leisure sectors love it, and we love it, ”said investment expert Thomas Hayes of asset manager Great Hill Capital. The shares of American Airlines, United Airlines, Delta and the cruise companies Carnival and Norwegian Cruise rose between 5.7 and 8.3 percent.
Also titles from other industries that would benefit from a normalization of public life were among the winners, including cinema operators such as AMC Entertainment and the theme park operators Disney and Six Flags Entertainment. Live Nation Entertainment up percent after the ticket seller earned more than expected and sold 22 million tickets for shows in 2022. Strong quarterly figures from the travel portal Expedia and the accommodation broker Airbnb also had a positive effect on the travel industry overall. Their papers advanced by 15.7 and 13 percent respectively.
US stock market expert Koch: “Pfizer is wiping out competitors with Covid miracle pill”
Look at further individual values
Canada Goose: An optimistic outlook for the Christmas season helped Canada Goose to make strong gains. The shares of the supplier of high-priced down jackets rose 19.3 percent. Unlike other providers, the company does not expect any significant sales losses due to delivery bottlenecks or shipping restrictions this winter.
Ocugen: Hopes for an early US release of Ocugen’s coronavirus vaccine for children aged two and over are giving wings to the pharmaceutical company. The shares rose initially by five, later only by 0.7 percent. The company has filed an application with the FDA for emergency approval.
GoPro: A quarterly result above market expectations gives GoPro the biggest price jump in half a year. The action camera supplier’s shares rose 7.9 percent. The company increased sales reportedly by 13 percent to $ 317 million. At $ 0.34 per share, earnings were almost twice as high as forecast.
Mainz Biomed: Otherwise, the small IPO of a German company made headlines in New York. Mainz Biomed shares peaked at $ 18 on the first day of trading after being issued at $ 5. In the end, they were trading at just under $ 10. The Mainz-based company specializes in tests for colorectal cancer screening.
Above: After the onset of the corona pandemic, business at taxi competitor Uber is also continuing to recover. In the third quarter, the travel agent increased its revenues significantly compared to the previous year. On an adjusted basis, he achieved a positive operating result for the first time. Investors were taken with it, the price rose 4.2 percent.
Peloton: Lowered business targets broke the biggest price fall in the company’s history for Peloton. The fitness equipment maker’s shares fell a little more than a third to a year and a half low of $ 56.39. Because of a surprisingly fast drop in demand for exercise bikes, the company only expects total annual sales of $ 4.4 to 4.8 billion instead of $ 5.4 billion. This means that the operating loss will also be greater than previously expected, commented analyst John Blackledge from asset manager Cowen.
Stockbrokers expect further headwinds. Wedbush analyst James Hardiman said that the company had fallen out of favor in such a short period of time. Although the networked fitness offers offered by the company still have potential, the path is becoming increasingly difficult, said analyst Kaumil Gajrawala from Credit Suisse.
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