The New York Stock Exchange keeps breaking records

The Nasdaq market in New York, USA, summer 2020

The health crisis may have turned into an economic crisis, leading to massive layoffs and a soaring unemployment rate in the United States, above 10% in July, investors remain confident. Above all, their appetite for new technologies still appears to be strong. The Nasdaq Composite index, which includes many shares of tech companies, such as Alphabet (Google’s parent company), Microsoft and even Amazon, thus recorded a new record on Monday August 24, 2020. Thanks to a further increase in 0.60%, it now peaks at 11,379 points.
The S&P 500 index, bringing together 500 of the largest listed companies across the Atlantic and considered to be the most representative of the US stock market, also reached a new high. Thanks to an increase of 1% Monday, it was displayed 3,431 points at the close of the stock market. It had already returned to its pre-crisis level on August 18, after a vertiginous drop in the index and historic by its speed in February. Between its highest point on February 19 and its lowest point on March 23, the S&P 500 had collapsed 34%.

Tech values ​​at the party

As of June, the Nasdaq returned to its pre-health crisis level. The confinement and the rise of teleworking have greatly benefited tech stocks like Netflix and Amazon, as consumers have used their services more than ever. But the index is also driven by the insane rise of Apple, whose market capitalization exceeded $ 2 trillion on August 19 – it is the first US listed company to reach such a value. In the same vein, Tesla is experiencing an impressive rise. Elon Musk’s group saw its action cross the $ 2,000 mark on Thursday, August 20. At the beginning of July, it became the most expensive automobile manufacturer on the stock market.
Tesla will divide its share price by five to make the stock more accessible and thus broaden its investor base. They hope to see the company enter the S&P 500 thanks to the four profitable quarters it has just aligned.

Hope for a vaccine

The progress of classes in New York Square on Monday was also fueled by new information on a treatment and a vaccine against Covid-19. Sectors particularly affected by the pandemic, such as air transport, have jumped, with American Airlines shares climbing for example by more than 10%. The American agency responsible for medicines has authorized urgent treatment by transfusion of blood plasma of cured people, reports La Presse. The White House is also considering granting a fast-track clearance process for a vaccine developed by AstraZeneca and the University of Oxford, according to the Financial Times.
If a vaccine is soon found, the Dow Jones index, bringing together large American industrial groups, could in turn reach new highs such as the Nasdaq and the S&P 500, which remains more than 4% of its previous record. -crisis.

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