Dusseldorf The prospect of an end to the economic coma to combat the corona virus gives US investors hope at the end of the week. The aircraft manufacturer’s announcement BoeingStarting production again and President Donald Trump’s plans to gradually start the economy aroused the buying mood.
The Dow Jones gained 3.0 percent to 24,242 points. The technology-heavy Nasdaq advanced 1.4 percent to 8,650 jobs and the broad S&P 500 rose 2.7 percent to 2,875 points. Over the course of the week, the Dow rose 2.2 percent, the S&P by three and the Nasdaq 6.1 percent. Had in Europe the Dax previously 3.1 percent and the EuroStoxx50 2.4 percent.
“The news of a possible remedy on the same day that Trump presented its opening plans gave investors reason to be optimistic that something like normal will return sometime soon,” said Joshua Mahony, market analyst at broker house IG.
US President Donald Trump presented his exit strategy from the corona crisis on Thursday. The White House plan provides for specific parameters according to which individual states can gradually loosen their restrictions. Germany would also benefit from a plan with clearly defined milestones, comments Handelsblatt author Christian Rickens.
Hope for corona drug
The biggest issue on the markets today, however, was hope for one Corona drugthat the US pharmaceutical company Gilead is currently testing. In a study by the University Clinic in Chicago, remdesivir, which was originally developed against Ebola, led to a rapid reduction in fever and a reduction in the symptoms of the lung disease, so that almost all patients could be discharged in less than a week.
At the end of the month, the group plans to present more comprehensive results from its phase 3 study. It was still too early to draw general conclusions from the success of the treatment. The pharmaceutical company’s papers grew by around eight percent.
However, they act as mood dampers Economic data from China: Economic growth there shrank by 6.8 percent in the first quarter of 2020 compared to the same period in the previous year. Even if China is slowly starting up its economy again after the pandemic, the country will probably not be able to lead the rest of the world economy to recovery, China correspondent Dana Heide analyzes.
The US oil prices broke in on Friday. The price of the US variety WTI temporarily lost almost twelve percent to $ 17.50 a barrel and was thus as low as it was last more than 18 years ago. US inventories were rapidly filling as refineries demand less and less crude oil, says Bjornar Tonhaugen, head of the oil business at Rystad brokerage. Nothing will change for the time being despite the planned relaxation of the virus restrictions.
Focus on individual values
Gilead: The new hope for corona therapy rose on Friday: the shares closed 9.7 percent higher.
Boeing: After a drop of eight percent on Thursday, Boeing papers were also among the winners on Friday. They gained 14.7 percent. Of the airbus-Rivale announced that it would start production again next week.
Titles like were on the sales list Amazon, Netflix or Blue apron with a minus of up to 3.7 percent: The online retailer, the streaming service and the cookbox provider had recently benefited from the exit restrictions. The prospect of easing now moved investors to take profits. Amazon and Netflix both climbed to an all-time high on Thursday.
Apple: Apple was one of the losers with a drop of almost 1.4 percent. The iPhone manufacturer’s share was downgraded by Goldman Sachs analysts from “neutral” to “sell”. The group is likely to suffer primarily from the lower demand for iPhones. The stock loses more than two percent.
With agency material.
More: Here you can find out how the German stock market developed on Friday.