NEW YORK (dpa-AFX) – On the US stock exchanges, prices on Monday continued the late price stabilization on Friday with a recovery. As before in Asia and Europe, signs of a possible end to the partial shutdown of US government business brightened the mood. The Senate voted with Democrats to discuss a transition budget from the House of Representatives.
The US leading index Dow Jones Industrial rose by 0.3 percent to 47,131 points after almost an hour of trading. It continued to recover from its lowest level since October, which it reached last Friday at just under 46,500 points. After technology stocks had recently suffered particularly badly, their NASDAQ 100 price barometer recovered by 1.9 percent to 25,541 points on Monday. The market-wide S&P 500 gained 1.2 percent to 6,807 points.
For the first time since the bitter budget dispute began in the United States, Republicans and Democrats took a concrete step to overcome the longest shutdown in the history of the United States. If a solution is found, investors would again have access to government data that provides information about the state of the world’s largest economy and could control the future monetary policy the US Federal Reserve Bank can be better estimated.
Among the biggest tech stocks, the recovery was led by NVIDIA, up nearly four percent. On Monday, the US bank Citigroup recommended using the recently slumped price to buy the chip company before the quarterly figures expected on November 19th. In his short-term trading idea, analyst Atif Malik assumes that expectations will be exceeded and goals will be set higher once again.
Airlines that were recently only able to stick to their flight schedules to a limited extent due to official bottlenecks only benefited briefly from the shutdown signals. Shares in the industry giants Delta (Delta Air Lines), American (American Airlines) and United Airlines (Southwest Airlines) were recently down by up to half a percent. The wide-body jets of the McDonnell Douglas MD-11 series, which have to remain on the ground for the time being, are making negative headlines in the aviation industry.
After the crash of a UPS (United Parcel Service) freight plane, the US aviation safety authority has banned it from flying. Because they are often used as freight carriers, in addition to UPS, the shares of the logistics company FedEx also suffered with losses of 3.4 percent, with share prices falling by 1.9 percent. The groundings affect about 9 percent of UPS’s fleet and about 4 percent of Fedex’s aircraft.
The pharmaceutical giant Pfizer received a cautious response when it won the bidding war for the weight loss startup Metsera. Pfizer shares were up 0.1 percent, while the recently record-hungry Metsera shares fell by a good 15 percent. Metsera also decided against an offer from Novo Nordisk due to impending concerns from US antitrust watchdogs.
With the shares of Eli Lilly, a major competitor in the obesity industry rose particularly significantly by almost six percent. They hit a record high near $1,000, which was linked to an upgrade to “Outperform” by analyst firm Leerink Partners./tih/he