The previous day's rally on Wall Street continued unabated

The previous day's rally on Wall Street continued unabated. The hopes of an improvement in the corona situation again ensured strong profits. Investors seemed to have buried the fear of the Omicron variant, it said in the trade. The Dow Jones Index gained 1.4 percent to 35,719 points, the S&P 500 and Nasdaq Composite climbed 2.1 and 3.0 percent, respectively. To 2,558 (Monday: 2,523) course winners fell and 837 (873) losers. 93 (105) titles closed unchanged. Investors reached for every straw in the corona pandemic, because there was not much new compared to the previous day. The pharmaceutical company Glaxosmithkline had announced that preclinical studies had shown that its monoclonal antibody sotrovimab remained active against the omicron variant. The titles of the cooperation partner Vir Biotechnology rose by 12 percent. And the EU had approved Roche's "Actemra" for the treatment of severe Covid-19 courses. "Part of the boom is undoubtedly due to growing optimism about the Omikron variant, which appears extremely contagious but not extremely dangerous," said BDSwiss Holding analyst Marshall Gittler. Some traders tried to explain the premiums an early year-end rally. One looks for reasons to buy. "We are at a stage where investors are looking for every piece of news they can find (...)," said market strategist Hugh Gimber of JP Morgan Asset Management. US productivity and trade deficit data were irrelevant; positive data from China provided some support. But the upswing was extremely fragile. Any negative headline about the corona situation could upset the mood, warned traders - also with a view to other possible stress factors. In the Ukraine conflict, US President Joe Biden threatened Russian President Vladimir Putin with severe economic sanctions if Russia attacked Ukraine. The Russian troop deployment on the border with Ukraine had fueled corresponding fears. Oil prices continued to rise sharply - to their highest level in almost two weeks. The greatest worries about the Omikron variant of the corona virus, which would have triggered the recent price crash, have evaporated, according to Commerzbank. The fact that the nuclear talks with Iran stalled also had a price supportive effect. USA imposed new sanctions on Iran. Iranian oil is therefore not to be expected on the market in the short term, it said. The price of oil could not be slowed down by the Energy Information Administration's lowered price forecast. The dollar fell somewhat in late trading but defended its most recent gains on a daily basis. The dollar index was just up - the euro recovered from the daily lows. According to analysts at Bank of America, the leading indicators show that the US will achieve the market's growth targets in the next two quarters, but the EU and Japan are currently showing significant downside risks. This speaks for the greenback. The gold price climbed to its highest level in a week. But only when the marks of 1,790 or 1,800 dollars are exceeded would further upside potential, it said. The market is playing economic recovery and this could initially further increase the inflation effects and speak for the precious metal. The US bond market suffered from shifts into equities - yields rose as a result. Participants referred to the relaxation signals in the Omicron variant, which resulted in an increased risk appetite among investors. The yield on 2-year stocks reached its highest level since March 2020. The Fed could reduce its security purchase program again next week and faster than expected, it said.