Wall Street started the new quarter cautiously

Wall Street started the new quarter cautiously. The S&P 500 nevertheless marked the next record high. Before the labor market report ("Payrolls") coming up for Friday, traders were now showing a certain reluctance, as the data could potentially help to set the course for the future monetary policy of the US Federal Reserve. The unexpectedly sharp decline in the weekly initial US jobless claims did not move. "The data is strong, but the market is waiting for the big job report on Friday," said a trader. The Dow Jones index rose 0.4 percent to 34,634 points, the S&P 500 climbed 0.5 percent, while the Nasdaq composite advanced 0.1 percent. Among the individual stocks, the shares of the German biotech company Curevac collapsed by 7.7 percent. According to final evaluations, the corona vaccine from the pharmaceutical company has only a low level of effectiveness. The English soccer star Jadon Sancho is moving from Borussia Dortmund to Manchester United for a transfer fee of 85 million euros. The British share rose 0.7 percent. The Boeing share closed hardly changed. The US aircraft manufacturer has appointed a new CFO, Brian West. He previously worked for General Electric for many years. Despite convincing quarterly figures, Micron Technology fell by 5.7 percent. The titles had shown themselves quite firmly by the middle of the week. The strong demand for semiconductors gave the group a jump in sales and profits in the third quarter of the financial year. Micron expects further growth in the final quarter. The transaction with Texas Instruments was viewed negatively. Their shares fell 0.8 percent. The company is acquiring a chip factory in Utah from Micron Technology for $ 900 million. Texas Instruments is thus increasing its capacities in the current global chip shortage.