Reporting season shows the tech trend

Published on: 23-Jul-2020
Category: Trading
Last updated: 23-Jul-2020

Reporting season shows the tech trend

Stock markets are currently receiving support from the second quarter reporting season. Some reports have already been published in the USA, but in Germany the leading index Dax still depends heavily on the business figures of the companies. Many investors are looking forward to the figures for the second quarter, because the first effects or consequences of the ongoing corona crisis are noticeable. The large US indices have positive values ??that are supported by good corporate values. The leading Dow Jones index ended yesterday's trading session with a gain of 0.62 percent and has been back at over 27,000 points for over a month. The broad-based S&P 500 performed just as well and, at 3,276 points, is the highest since the beginning of the crisis. The tech index Nasdaq closed yesterday with a profit of 0.24 percent.

The tech trend has particularly intensified in the Corona crisis and Nasdaq members have seen huge price jumps. The strongest was the electric car maker Tesla. In the past twelve months, the shares have increased their value by 500 percent. This makes Tesla the most valuable car maker in the world, even if the high profits still fail to materialize. The provider of online video conferencing Zoom has also grown strongly thanks to the corona crisis, the home office and the exit restrictions with an increase of 178 percent within one year. The share price of the online retailer Amazon also rose 53 percent, as did the Microsoft group with 51 percent within one year. Twitter, Intel, and AT&T will follow soon.

In Germany, the Dax rose by 0.6 percent to 13,183 points. There was a boost here from car maker Daimler, which made hard losses, but has already introduced a course of austerity that has convinced investors. The share is up 5.41 percent. The scandal company Wirecard is still at the bottom of the Dax. With a minus of 1.4 percent and a price of 1.72 euros, the company seems to be at the end of its history. New arrest warrants against three board members for balance sheet fraud continue to drive the company towards the abyss.


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