Economy

Debutant Coupang hits green markets USA | Financial

At around 8 p.m. the Dow Jones index is moving 0.9% higher. The Dow already rose to record high on Wednesday. The broadly composed S&P 500 index climbs 1.3%, hitting a record. Nasdaq technology fair advances 2.5%.

Investors are under the spell of Roblox. The gaming platform made a successful debut on Wall Street on Wednesday with a price explosion of 54%. The Roblox share is still 5.9% higher today. Top investor Cathie Wood has bought approximately $ 36 million worth of pieces of Roblox.

The South Korean internet shopping giant Coupang made its stock market debut in New York today. The company was founded in 2010 and can count the Japanese investor SoftBank among its shareholders. Coupang’s introductory price is $ 35. The stock is positively received by investors, as the price is now more than 50% higher at $ 53.

Industry colleague Alibaba wins 2.8%. This is despite reports that Chinese regulators are considering imposing a hefty fine on online store group Alibaba. The fine would exceed the $ 975 million that chipmaker Qualcomm had to pay for monopoly practices in 2015, business newspaper Wall Street Journal reports. In addition to paying a fine, Alibaba should also stop certain anti-competitive practices on the platform. For example, traders should not simultaneously offer the same items on another platform as with Alibaba. The regulators are also looking at whether Alibaba should divest some parts of the company, the insiders say. Those would be branches that have nothing to do with the online shopping side of the business.

Pharmaceutical Johnson & Johnson becomes worth 0.8% more. The Dutch subsidiary Janssen has received approval to have its corona vaccine administered to citizens in the European Union.

Competitor AstraZeneca however, loses 1.6% after the administration of the corona vaccine of this pharmaceutical group has been provisionally halted in Denmark, Iceland and Norway. Austria, Luxembourg and the Baltic states had already temporarily restricted the use of the drug.

Course Boeing takes a flight

Boeing gets 2.1%. The aircraft manufacturer is reportedly about to land a multi-billion dollar order from Southwest Airlines for its 737 MAX aircraft.

Software producer Oracle on the other hand, loses 7% after quarterly figures. The cloud branch of the company, in particular, underperformed.

GameStop, a speculator’s plaything for some time, peaked at $ 348 on Wednesday. The games seller is today 1.1% in the min.

AMC Entertainment (+ 1.5%) has also recently been drawn into a battle between private and professional investors. The cinema chain is counting on better times as a result of the roll-out of vaccines and the premiere of new films.

Unemployment benefits are not too bad

Figures on weekly unemployment benefits in the US were also published this afternoon. It showed that 712,000 unemployed Americans turned to the government for support in the past week. That was a stroke of luck, because 725,000 aid applications had been expected. A week earlier, the number of unemployment benefits was 745,000.

It is now for the third consecutive week that the number of WW applications remains below 800,000. But that is still on the high side, because during the financial crisis in 2009 the number of aid applications never exceeded 665,000.

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