Dow Jones closes in the black: bargain hunting helps courses on the jumps

Tesla stocks bounce back from crashes caused by messy Twitter takeover The reason for this is a comment from company boss Musk.

Dow Jones closes in the black: bargain hunting helps courses on the jumps

Tesla stocks bounce back from crashes caused by messy Twitter takeover The reason for this is a comment from company boss Musk. In general, after the nervousness on Wall Street, recovery is now setting in again. This is due to the developments on the US labor market.

Weekly US jobs data gives investors on Wall Street optimism. The Dow Jones index of standard values ​​was one percent higher in New York at 33,220.8 points. The broader S

Initial US jobless claims rose as sharply as expected at 225k compared to 216k the previous week. "It's certainly a sign of a slowdown in the labor market," said Peter Cardillo, chief economist at investment firm Spartan. Investors are hoping that a slowing labor market will prompt the US Federal Reserve and other major central banks to take smaller interest rate hikes.

However, today's price development is also related to the fact that the market has performed quite poorly in the past few days due to concerns about the number of infections following the recent easing in China. "We're at the end of the year. What we're seeing is partly a bargain hunt," Cardillo said.

Nasdaq stocks like Netflix, Apple and Microsoft gained up to 5.27 percent. According to experts, rising inflation and higher interest rates will devalue the future profits of these high-growth companies. The improved sentiment weighed on the US currency, which is seen as a safe haven in times of crisis.

A comment from Tesla boss Elon Musk helped the stock get back on its feet. The shares of the US e-car maker were 8.08 percent higher. Rivals Lucid and Rivian also rose by five and 5.5 percent, respectively. "Don't get too irritated by the madness of the stock market," Musk wrote in an email to employees. He firmly believes that Tesla will become the most valuable company in the world in the long term.

Investors worried about Tesla's production in Shanghai. Some also feared that Musk's tweets and bumpy takeover of Twitter were hurting the brand. "Whether the stock market at Tesla is going crazy or not, Elon Musk has definitely done his company's stock a disservice this year," said investment strategist Jürgen Molnar of brokerage house RoboMarkets.