new York Speculation of easing the tariff dispute with China is tempting investors into the US stock market. The US benchmark index Dow Jones gained 0.6 percent to 26,496.67 points. The technology-heavy Nasdaq advanced 0.6 percent to 7,950.78 points and the broad S & P 500 gained 0.6 percent to 2,938.13 points.
The optimism is fueled by a tweet from US President Donald Trump announcing a personal meeting with Chinese Vice Prime Minister Liu He on Friday, said Robert Pavlik, chief investment strategist at asset manager SlateStone. "This gives market participants hope that a trade agreement or at least a partial deal may be announced tomorrow." Previously, Liu had said his government was interested in reaching an agreement.
Single values in focus
Against this backdrop, investors were turning to technology companies whose business is heavily dependent on trade with China. So won the shares of chip manufacturers Intel and Nvidia each more than one percent. Also in demand were the titles of the construction equipment supplier Caterpillar, which increased by 2.7 percent.
However, the Wall Street favorites included the shares of Bed, Bath & Beyond. They rose nearly 22 percent after household goods retailer Mark Tritton was hired as the new boss. Analyst Cristina Fernandez of brokerage firm Telsey credits the current retailer's retailer, Target, with spurring up its refreshed assortment and retooled business with its existing employers.
The German biotech company BioNTech made a mixed debut on the US technology exchange Nasdaq. The titles initially rose to $ 16.70, but closed around five percent below their issue price of $ 15 at $ 14.24. Originally, the Mainz-based company, which specializes in the development of personalized immunotherapy for the treatment of cancer and infectious diseases, offered the papers at $ 18 to $ 20.
Despite a surprisingly strong quarterly profit, shares of Delta Air Lines lost 1.5 percent. The earnings target for the current quarter of $ 1.20 to $ 1.50 per share fell short of the market expectation of $ 1.51. The airline must get their costs under control, wrote analyst Helane Becker of the asset manager Cowen.
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