Positive stock market sentiment in the US

Published on: 28-Nov-2019
Category: Trading
Last updated: 28-Nov-2019

Positive stock market sentiment in the US

In the US today, on the fourth Thursday of November, it’s Thanksgiving and Wall Street reacts positively, as it does every year. On the actual holiday, the stock market is closed, but in the short week you can see the so-called holiday effect. The Dow Jones quoted at the close with a gain of 0.35 percent at 28164 points. The Nasdaq technology index gained 8,705 points, up 0.7 percent, and the broad S & P 500 rose 0.4 percent to 3,153 points. In Germany, too, the leading Dax index closed the trading day at 0.4 percent and 13,287 points. The euro also rebounded against the dollar, trading at $ 1.1000 on Wall Street at the close.

The positive stock market sentiment is currently also caused by strong economic data and the slowing down of the trade dispute. In addition, the second estimate of US economic growth in the third quarter resulted in a rise in gross domestic product. GDP rose 2.1% from July to September, 0.2% more than the first estimate. Donald Trump commented on an agreement on the trade dispute and talks that are in the final round.

Chinese Internet merchant Alibaba is now listed on the Hong Kong Stock Exchange and made a good start on the first trading day. The issue price of the stock was 176 Hong Kong dollars (22.49 US dollars) and the price rose by the close of trading by 6.6 percent to 187.60 Hong Kong dollars (23.97 US dollars). The group has taken about 11 billion US dollars. This marks Alibaba's largest IPO of the year and is now the largest capitalization company in Hong Kong. One of the goals, more independence from the American financial market, Alibaba is ambitious.

The title of the largest IPO of the year is likely to be fetched on December 11 by Saudi Arabian oil giant Saudi Aramco. Aramco is also expected to break Alibaba's record of the largest IPO ever. The group plans to raise $ 25.5 billion in revenue from its IPO.


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