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Equities New York Outlook: Slight relaxation before the weekend | 16.10.20

NEW YORK (dpa-AFX) – The US stock markets shouldn’t make big jumps on Friday and open friendly. The broker IG valued the Dow Jones Industrial (Dow Jones 30 Industrial) recently 0.6 percent higher to 28 624 points. This indicates a slight weekly gain of around 0.1 percent for the US benchmark index. The Dow reacted to the announcement of new US economic data with a slight increase before the market. For example, US retail sales rose 1.9 percent in September, more than twice as much as expected.

The stock exchanges are currently calculating the risk of a second wave of pandemics and the likely restrictions associated with it, said market analyst Timo Emden. The risks remained high and the mood cracked, because with the political stalemate about another corona aid package from the USA, “investors would have no straw to cling to”.

Among the individual stocks, the shares of Boeing were in the investor focus with a pre-market price increase of 5.6 percent. According to the European aviation authority EASA, the aircraft manufacturer’s 737 Max crisis jet should be allowed to take off again this year. This means that the take-off ban for Boeing’s most popular aircraft type, which has been in force since March 2019, could be lifted after more than a year and a half. Aviation authorities from all over the world withdrew its approval from the Boeing jet after two crashes with 346 deaths last year.

The Navistar papers (Navistar International), which had slumped by almost 20 percent on Wednesday, shot up on Friday pre-market by 21 percent to 42.86 US dollars. The TV broadcaster “CNBC” had previously reported that Volkswagen’s truck subsidiary (Volkswagen (VW) vz) TRATON was about to take over the US truck manufacturer for $ 44.50 per share. Traton announced on Wednesday that the previous takeover bid would expire on Friday. Traton had increased it from $ 35 to $ 43 per share just over a month ago.

Pfizer’s shares gained 2.2 percent in pre-market trading. The pharmaceutical company announced that it would apply for an emergency permit for its Covid-19 vaccine in November ./edh/mis

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