The Nasdaq rose 26% from its share at the beginning of the year • The S&P index is 5% higher than before the crisis • Tesla overtook Walmart: 500% jump since low

• New York Stock Exchange. Corona recovery journey

  Photo: 

  AP

The US stock market continues its recovery from the corona with a month of continuous gains in most indices, with the monthly jump in home sales in the country breaking a 52-year record. 

At the end of the trading week on Saturday evening, the Dow Jones rose 0.7%, while the Nasdaq and the S&P rose 0.42 and 0.34 percent, respectively. The last two indices have been rising for the fourth week in a row. The Nasdaq has already risen 26 % Since the beginning of the year, before the corona period, while S&P, which recently broke a new record, is more than 5% away from its value in early January. The Dow Jones is about 2% behind. 

Carmaker Tesla has completed a 500 percent jump since the March slump and entered the top 10 Wall Street companies with a market capitalization of more than $ 380 billion - more than Walmart. Apple's stock also continues to climb, this time more than 5%, recording a market value of $ 2.1 trillion - after recently becoming the first company on the stock exchange to cross the 2 trillion mark. The company posted a net profit of $ 11.25 billion in the last quarter ($ 2.58 per share) - an increase of about 17% compared to the same period last year.

Shares of tire maker Godair continue to plunge and fall by about 6% in recent days, after plunging itself into a political storm in the form of a ban on its employees to express support for police forces (Blue Lives Meter) - as opposed to its support of Black Lives Meter - the organization that claims to work for the Afro-population. American, but the one his men have previously called for harming police officers. 

Following the order, President Trump called for the boycott of Godair, in contrast to the support he received from NBA star LeBron James. Following the criticisms and damage to the stock's value, Godair's CEO issued a "clarification" that the company supports the blue uniforms, in order to minimize damage.

Meanwhile, Americans took advantage of the slump in mortgage prices and bought 5.86 million homes in July - a sharp jump of 24.7% compared to June. This is the sharpest monthly increase since 1968 and the absolute highest number of home purchases in about 14 years. 

Apartment prices rose in line with demand when the median price crossed the $ 300,000 mark for the first time - an increase of 8.5% on an annual basis.

In the most expensive cities, most notably New York and San Francisco, there is a growing trend of abandoning rented apartments in favor of living in nearby suburbs. Thus, New York City's capital has fallen by $ 336 billion in the past year - 13% of the city's total capital; This is the highest figure in the United States. 

A sharp drop in tax collection

Tax revenues plunged nearly 50 percent in June, following consecutive declines of 32 percent and 23 percent in April-May. Most of those who leave Manhattan have an average income of $ 100,000 or more per year. Alongside the corona, the influx from New York also stems from heavy taxation. New York Gov. Andrew Cuomo has criticized Mayor Bill de Bellasio on the issue, saying the rich "are not returning to New York for the time being. They prefer to pay lower taxes in Connecticut." De Bellasio, for his part, insisted that the high-income earners "will not dictate our policies."

San Francisco, California, has lost about 5 percent of its capital in the past year, with California lawmakers recently passing bills to raise the capital tax by about 0.5 percent and raise income taxes to 16.8 percent - from 13.3 percent today. California is also seeking to deal with a future departure of capitalists and businesses in the form of a “fine” that would require leavers to pay taxes to the state up to a decade after they leave. 

This is a precedent-setting proposal that has met with much opposition, and could lead to a massive flight of businesses, including from Silicon Valley, before the new law goes into effect - if and when. 

The economic issue will be at the center of the upcoming US election, with President Trump seeking to implement a plan of cuts in taxes and regulations while Democrats oppose, and want to inject more money into states.