Pfizer Deal Spotlights Pharma Stocks; DAX, Gold, Bitcoin Gain
Pfizer's recent deal on drug prices with the Trump administration has put pharmaceutical stocks under the spotlight. Meanwhile, the DAX has closed with a gain, and gold has reached a new record high. Bitcoin and US stocks have also seen gains, while investors remain calm about the US government shutdown.
The DAX index closed Tuesday's trading session with a gain of 0.6 percent, reaching 23,880.72 points. This positive performance comes as gold hit a new record overnight, currently trading at $3,866 per ounce. Silver is also up, trading at $46.99 per ounce. In the cryptocurrency market, Bitcoin price has gained in recent days, now trading at $114,593.
Across the Atlantic, US stocks also saw slight gains on Tuesday. The Dow Jones Industrial Average rose 0.2 percent to 46,397.89 points. Investors seem relaxed about the ongoing US government shutdown, the first in years. Looking ahead, the DAX is expected to add a few more points at the start of October. Additionally, Nike's after-hours numbers may impact trading positively today.
The Pfizer agreement has brought attention to pharma stocks. The DAX's gain and gold's record high indicate a positive market sentiment. Bitcoin price's rise and US stocks' performance, along with investors' calm during the shutdown, suggest stability. The DAX is expected to continue its upward trajectory, with Nike's numbers potentially providing a boost.
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