Dow Jones Industrial Average (INDEXDJX: .DJI) stays strong despite bad news – Idaho Reporter

INDEXDJX: .DJI

Dow Jones Industrial Average (INDEXDJX: .DJI) stays strong despite bad news

Led by a price rally in technology stocks, the U.S. stock markets made a strong start to the week after the long holiday weekend. The Chinese stock exchanges provided clearly positive impulses. In China, the leading index CSI 300 had skyrocketed by around six percent to the highest level in five years.

The Dow Jones Industrial (INDEXDJX: DJI) closed 1.78 percent higher at 26,287.03 points, almost at its daily high. The leading index also ended above the 26,000 mark for the first time in almost two weeks. The broader S&P 500 (INDEXSP:INX)rose 1.59 percent to 3179.72 points. Technology-heavy Nasdaq 100 (INDEXNASDAQ: NDX) it rose 2.53 percent to 10,604.06 points.

The mood among US service providers – measured by the ISM Purchasing Managers’ Index – brightened more than expected in June and now signals a recovery in economic activity. In April, the purchasing managers’ index fell to its lowest level since the financial crisis in 2009, given the Corona crisis. The ISM index is considered a reliable leading indicator of economic activity in the United States.

Below the individual values, the soaring of some heavyweight US technology stocks continued with further record levels. Probably because investors see selected tech stocks as the best bet in the times on COVID-19 crisis. The Amazon shares broke the $ 3,000 mark for the first time and hit a record high of $ 3,059.88. Ultimately, they won around 5.8 percent.

 

Apple’s share certificates climbed to a historic high of $ 375.78 and ended up about 2.7 percent higher.

Microsoft’s shares rose to a record high of $ 211.13, making it worth more than $ 1.6 trillion for the first time. For comparison: All 30 DAX stocks together have a market value of around $ 1.4 trillion. The titles of the software company closed around 2.2 percent firmer.

Netflix’s papers scratched the $ 500 mark and hit a high of $ 499.50. They went out of trading with a profit of around 3.6 percent.

Even the shares of Tesla posted another record high of $ 1,377.79. Ultimately, the title of electric car maker won around 13.5 percent. Previously, some analyst firms had raised their share price targets sharply.

Uber’s share certificates rose by 6.0 percent. The online broker for passenger transportation takes over the food delivery company Postmates for $ 2.65 billion. Uber plans to issue around 84 million new shares for financing.

The Euro held above $ 1.13 , most recently trading at $ 1.1307. The European Central Bank (ECB) had set the reference rate at $ 1.1325. The dollar had thus cost 0.8830 euros. Directional ten-year US government bonds lost 4/32 points to 90 14/32 points and returned 0.68 percent

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