The traffic lights on Wall Street have turned green again

After a day of breathing, the traffic lights on Wall Street have turned green again. The Dow Jones Index, S&P 500 and the Nasdaq indices marked new record highs - the Dow also closed above the 35,000 mark for the first time. The buying mood was fueled by the reporting season, which was very much to the taste of the stock exchange traders, with strong results for most companies. Of 110 S&P 500 companies that have reported so far, 85 percent had outbid the market’s profit forecasts. The Dow Jones index climbed 0.7 percent to 35,062 points, the S&P 500 and Nasdaq Composite rose 1.0 percent each. According to initial information, there were 2035 (Thursday 1054) course winners and 1270 (2246) losers on the Nyse. 118 (139) titles closed unchanged. "We have a reporting season that is going extremely well," said Principal Global Investors' chief strategist Seema Shah. In addition, the corona pandemic had lost some of its horror. Market participants assumed that governments in the US and Europe were unlikely to enact closures that would limit growth - despite rising case numbers. Even weak economic data slowed Wall Street only briefly: The growth of the US economy had slowed in July. The composite index for production in the private sector, compiled by IHS Markit, fell, but remained in the area indicating growth. The purchasing manager indices for the manufacturing industry and the service sector failed to meet market expectations in some cases quite significantly. "The mentality to buy into weakness is intact and healthy," said Putnam Investments' market strategist Jason Vaillancourt, explaining the market reaction to the data. Among the reporting companies, the technology group Honeywell was more confident for the full year after a strong second quarter. However, the aerospace division had performed weaker than expected. The stock was 1.5 percent cheaper, partly because the company continued to admit problems with the supply chain. American Express (+ 1.3%), however, exceeded its earnings forecasts. Intel sales fell minimally, profits rose slightly, with both indicators exceeding expectations. However, Intel disappointed with the outlook. Intel crashed 5.3 percent. The business figures from Twitter (+ 3%) were received positively. The operator of the short message service of the same name exceeded expectations with all key figures. With a price jump of 23.8 percent, the Snap share reacted to the figures for the company from the social media sector, which more than doubled its sales in the second quarter. Kimberly-Clark turned a plus of 0.5 percent, the hygiene product manufacturer had lowered the forecast. The exchange rate outlook was confirmed. The dollar was slightly stronger, with the dollar index gaining 0.1 percent. The euro-dollar pair, however, moved little. The euro thus remained at the lower level it had reached the day before after the deaf statements by the ECB. The gold price weakened and was back at the $ 1,800 mark. On a weekly basis, the precious metal was 0.7 percent cheaper - burdened by the run in risky assets. Practically nothing happened on the bond market on a daily basis. Little movement on the oil market either: Oil prices tended to be marginally higher. The upward movement came to an end after three fixed days. "Traders are unsure whether the latest decisions of the Opec + group are bullish or bearish," said an energy analyst.