Wall Street has benefited from increased investor confidence

Wall Street has benefited from increased investor confidence. Among them, there is a belief that the Federal Reserve and other central banks will continue to support the economy. The market was worried that rising inflation could provoke a turnaround in interest rates. The Dow Jones index, which "celebrated" its 125th anniversary on Wednesday, rose 11 points to 34,323, the S&P 500 rose 0.2 percent, while the Nasdaq composite advanced 0.6 percent. The number of course winners was given as 2,265 (Tuesday: 1,229), those of losers as 1,091 (2,059). 118 (176) titles closed unchanged. Participants also saw a small countermovement in the gains of the leading indices after the market turned negative on Tuesday. Various central bankers had recently emphasized that the time for a monetary policy reversal had not yet come. "All these signals from the Fed show that there is no rush to dry up liquidity," says chief economist Savvas Savouri of Toscafund Asset Management. Urban Outfitters went up 10 percent. The clothing retailer posted a profit for the past quarter as the shopping landscape begins to normalize again. Nordstrom (-5.8 percent) had also submitted quarterly figures, which, however, were not well received. The department store and mail order chain narrowed the losses, but sales were still 13 percent below the level of 2019 and thus before the corona crisis. Ford's prices rose by 8.5 percent. At its virtual capital market event, the automobile manufacturer announced significantly higher investments in expanding the production of e-cars. Intuit gained 0.9 percent after the business report for the third quarter. The provider of software for financial management increased sales and earnings and posted a record surplus. Zscaler (+12.4 percent), a provider of cloud security systems, has beaten the market projections with its quarterly figures. In addition, the company reported a large number of unprocessed orders. Toll Brothers rose 3.8 percent. The luxury house builder can show increasing sales for the first quarter of the business year, which has also increased profit. Low mortgage rates and limited supply created a boom in home purchases.