View of the trading floor of the New York Stock Exchange.
(Photo: dpa)
Frankfurt Strong job data and encouraging test results for a Pfizer coronavirus drug fueled U.S. exchanges on Friday. All three selection indices recorded fresh records. The Dow Jones index of standard values rose 0.9 percent to 36,443 points. The broader S&P 500 and the technology exchange Nasdaq each gained 0.7 percent to 4,715 and 16,051 points.
In October, 531,000 new jobs outside of agriculture were created in the USA, analysts had only expected 450,000. “The labor market situation continues to improve significantly,” summarized analyst Ralf Umlauf from Helaba.
However, expectations of interest rate hikes could pick up speed again, “regardless of the Fed’s assurances that the time for interest rate hikes is not yet ripe.”
On the foreign exchange market, the dollar index, which reflects the rate of the US currency against major currencies, climbed up to 0.3 percent to a 13-month high of 94.634 points. In turn, the euro fell to $ 1.1514, its lowest level in 15 months. The yield on ten-year government bonds rose to 1.539 percent after 1.524 percent the previous day.
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Market movements were also caused by a study according to which a corona drug from Pfizer reduced the likelihood of dying from corona or having to be hospitalized for it by 89 percent. The stocks of pharmaceutical giant Pfizer jumped nine percent
“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 road. 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 5.5 and 8.6 percent.
Look at further individual values
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 initially rose by five percent, but then turned into the red. 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 vendor’s shares rose nine 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.
Peloton: Lowered business targets broke the biggest price fall in the company’s history for Peloton. The fitness equipment maker’s shares fell about 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.
More: 15 stocks with market power: who sets the prices in times of inflation.