Wall Street ends the trading week with a slight upward trend

Wall Street ends the trading week with a slight upward trend. Before the weekend, some US investors play it safe and cash in. The prospect of a longer-term looser US monetary policy prevented major setbacks on Friday. The Dow Jones index closed almost unchanged at 34,480 points, the S&P 500 gained 0.2 percent (4247 points). The Nasdaq composite was up 0.4 percent (14,069 points). Thanks to the recovery of the economy from the coronavirus consequences, the general mood is still positive and signaled a summer rally, said Peter Cardillo, chief economist at the Spartan asset management company. "But I do not expect any price increases in the wildest step." Stockbrokers are also eagerly awaiting the monetary policy consultations of the US Federal Reserve in the coming week, said Sam Stovall, chief investment strategist at the research firm CFRA. "At this meeting and the one in July, there will probably not be any changes in monetary policy or even thought about." Apparently, investors followed the central banker's assessment that the current price pressure was only temporary, said portfolio manager Thomas Altmann from the investment advisor QC Partners. "There is no other explanation for the rapid recovery on the bond market." The interest in the bonds from the USA pushed the yields of the trend-setting ten-year paper at times to a three-month low of 1.428 percent. The optimists were also in the majority on the raw materials market. The price of US WTI oil rose up to 1.3 percent to a two and a half year high of $ 71.14 a barrel (159 liters). According to the International Energy Agency IEA, the major producing countries must expand their oil exports in order to meet the rapidly recovering demand. Fear of supply bottlenecks drove the price of tin up to 0.8 percent to $ 32,416 a ton, the highest level in ten years. "Lockdowns in Asia are affecting supplies while demand continues to rise," said a commodities trader. People were desperately looking for the industrial metal that is needed for food cans, among other things. Against the trend, the shares of Royal Caribbean fell 0.6 percent. Two guests on a group cruise ship had tested positive for Corona. According to a passenger of the affected "Celebrity Millennium", life on board continues as before. The on-board restaurants are open and the planned shows are taking place. Nobody wears masks on the ship. Shares in Royal Caribbean rival Norwegian lost up to 0.8 percent. The cruise operators want to stick to their travel plans for the summer season. In addition, "Meme" shares caused a stir again. By this, stock exchange traders understand values ​​in which small investors encourage each other to buy in relevant Internet forums. The best-known example is the US video game retailer GameStop. This time Orphazyme moved into the spotlight. The Danish pharmaceutical company's Wall Street-listed stocks plummeted as much as 55 percent after quadrupling their value on Thursday. According to the company, there have been no changes in drug development or business figures that could explain such price volatility.