NEW YORK (awp international) – The US stock markets posted slight losses on the so-called “Witches’ Sabbath” in early trading. The Dow Jones Industrial rose to a record high of 30,343 points, but quickly slipped and turned into the red. Most recently, the US benchmark index was 0.49 percent lower at 30 155.83 points. This indicates a meager Dow gain of around 0.4 percent for this week.
The market-wide S&P 500 initially climbed another record high on Friday, but was recently down 0.49 percent at 3704.42 meters. The Nasdaq 100 selection index initially hit a new high and then fell. Most recently, the technology-heavy index fell 0.29 percent to 12,715.08 points.
During the “Witches’ Sabbath” there could be higher trading volumes and possibly more abrupt price fluctuations than usual. With this expiry date for options and futures on stocks and indices, large market participants in particular try to drive current prices to the prices at which they are exposed on the futures exchanges.
Fresh US economic data showed little influence on prices. For example, the USA widened its chronic current account deficit again in the third quarter during the Corona crisis. The economic outlook in the USA improved somewhat more strongly than expected in November. The composite index of leading economic indicators rose by 0.6 percent compared to the previous month.
On the corporate side, the focus was on FedEx papers. The flourishing parcel shipping in the Corona crisis gave the logistics group an unexpectedly strong quarter. However, investors cashed in first – the papers fell by 4.9 percent, bringing up the rear in the S&P 100 index. However, the share price has more than doubled since the beginning of July.
The shares of the vaccine manufacturer Moderna fell by 4.3 percent, although an advisory group to the US FDA had given the go-ahead for the US pharmaceutical company’s corona vaccine the night before. The vote was seen as an important signal for an emergency approval of the corona vaccine by the FDA./edh/fba
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