A surprising increase in retail sales are making investors more risk-taking

Strong bank balance sheets and a surprising increase in retail sales are making US equity investors more risk-taking again. Goldman Sachs shone just like the money houses in the days before with a profit boost. The Dow Jones index of standard values rose 1.1 percent to 35,295 points. The broader S&P 500 climbed 0.7 percent. The index of the technology exchange Nasdaq rose by 0.5 percent. The balance sheet season so far indicates that the large corporations could continue to achieve profit growth despite rising costs, said market strategist Neil Wilson of Markets.Com. Apparently, investors are currently ignoring the high commodity prices and supply chain problems. Goldman Sachs shares rose 3.8 percent. "The banking system is in great shape and it's a great pillar of the economy," said Josh Wein, portfolio manager at Hennessy Funds. The fact that US retailers increased their sales in September despite bottlenecks also contributed to the good mood. It grew by 0.7 percent compared to the previous month. Economists, on the other hand, had expected a decline of 0.2 percent. However, according to preliminary data, consumer sentiment was slightly below expectations in October. "Christmas will be the real test of the supply chain," said Wein. Moderna gave way to 2.3 percent. According to several sources, the US FDA is postponing a decision to approve Moderna's Covid-19 vaccine for adolescents. The agency wants to check beforehand whether the vaccination could lead to an increased risk of a rare inflammatory heart disease, people familiar with the matter said. Johnson & Johnson gained 0.7 percent. FDA advisors unanimously recommend approving an additional dose of the company's Covid-19 vaccine to bolster protection against the coronavirus. Virgin Galactic shares fell 16.8 percent. The space flight company has postponed the commercial launch of its own space service planned for mid-2022 by a month. Billionaire Richard Branson's company lost around a fifth of its market capitalization on the stock exchange.