Economy

Sunny mood on Wall Street | Financial

At around 8:00 PM, the Dow Jones index was 3.8% higher. Technology fair Nasdaq rose 2.5%. The broad composite S&P 500 index climbed 3.2%.

For the first time since the end of February, the growth in the number of new infections with the lung virus declined less than 1% worldwide. The global increase in the death toll also fell below 1% for the first time since the outbreak began. In addition, the ever-increasing easings of government restrictions, such as in the state of California, indicate that the virus is under reasonable control.

Fed Chairman Powell told TV channel CBS that the US central bank “is far from over.” According to the central bank head, many stimulus options are still open, such as expanding existing programs for cheap loans or starting new programs.

Corona vaccine

Moderna (+ 25%) was the best player on the Nasdaq. The pharmacist says he has had promising results in an initial test of his corona vaccine on humans. There were also few side effects. The next test will start in July.

Uber Technologies (+ 7%), the company behind taxi app Uber, also rose sharply. The company is cutting another 3,000 jobs to get through the corona crisis. This intervention is in addition to the approximately 3,700 jobs that had recently been interrupted. This means that in a short period of time Uber is about to transfer about a quarter of its total workforce.

Oil price

The oil and gas groups were also in the spotlight. The oil price rose to over $ 30 a barrel for the first time in two months, due to declines in production in the United States and Iraq. ExxonMobil (+ 7.4%) and Chevron (+ 5.7%) are big winners in the Dow Jones.

Google mother Alphabet (+ 1%) is also in the spotlight. US authorities are reportedly about to sue Google for distorting competition. President Donald Trump also warned other social media companies such as Facebook (+ 1.6%) and Twitter (+ 2.5%) that measures will be taken soon.

Amazon

Amazon (+ 0.7%) will reopen from Tuesday of its six distribution centers in France. The web store giant closed logistics sites last month after French judges ruled that the company should do more to protect personnel from the corona virus. Furthermore, iPhone maker Apple (+ 2.5%) will open 25 stores in the US again this week.

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