The Dow Jones has set a new record in the US stock market

  •   19/02/2021 - 09h28
  •   DEHOUI Lionel

The current context in the United States is marked by the health crisis linked to the coronavirus and the socio-political situation. These situations have constantly affected stock market trading. In this respect, Wall Street opened this Tuesday after a weekend extended by a holiday Monday.

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The Dow Jones has set a new record in the US stock market
Image copyright: krispdk - Flickr

The Dow Jones posted an exceptional record at the close of this Tuesday

On Tuesday, the New York Stock Exchange opened its first session for the new week. This, after a weekend extended by President Day. At the close of this session, the indices and stocks finished in scattered order. It is in this wake that the star index of the American stock market, the Dow Jones, stands out with an outstanding record.

A few hours after the start of trading, the statistics climbed. At the top of the list was the Dow Jones index, which rose to a new high. It has in fact increased by 64 points. That's 0.2% to 31 522 points. This score is quite remarkable for the beginning of the week. Hoping that the trend will be the same all week, the Dow Jones owes its new performance to several factors.

 

Factors that favoured the Dow Jones' progression

After an extended weekend, the Dow Jones Industrial Average rose sharply in Tuesday's session. This performance is due to several factors. First, there is the progress of the Covid-19 vaccination campaign. Second, the market was made favorable by the accommodation of fiscal and monetary policies of financial institutions.

Indeed, the central banks have promised to relax the conditions of access to financing. This decision encourages investors in their various projects. The final factor that has enabled the Dow Jones to reach a new peak is the budgetary support plan underway in the United States.

 

Tuesday's news on the other indices and equities

Apart from the star index, the Dow Jones, the other U.S. stock market indices also made news on Tuesday. The Toronto S&P/TSX was up at the end of the session. It gained 32 points, or 0.18%, at 18 429 points. The increase was driven by the energy and health sectors, particularly cannabis production.

As for the New York S&P 500, a decline of 2 points was noted. Of the 11 sectors covered by this index, only three stood out with an increase. Among these are banking with +1.77% and energy with +2.26%. The Nasdaq also posted negative figures. At the close, it lost 47 points, i.e. -0.34% at 14 047 points.

In the equities rankings, Facebook shares rose by 1.28%. With investments in geothermal energy, the oil groups BP and Chevron are up 5.80% and 2.05% respectively. On the other hand, Palantir is down 12.75%. The leader in spirits and alcohol production, Constellation Brands, also posted a decline of 4%. Apple is down 1.6% against Nissan, which refuses to collaborate with the Californian on a project to build autonomous electronic cars.