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NEW YORK (dpa-AFX) – At the end of a trading week marked by losses, investors on Wall Street have acted cautiously. The most important stock indices traded slightly in the red on Friday. The focus was on a number of mixed corporate reports on the past quarter.
The US benchmark index Dow Jones Industrial (Dow Jones 30 Industrial) recently fell 0.37 percent to 28,259.95 points. On a weekly basis, this indicates a loss of more than 1 percent.
The market-wide S&P 500 barely moved on Friday with minus 0.01 percent to 3453.26 points. The technology-heavy selection index NASDAQ 100 fell 0.25 percent to 11,634.24 points.
Investors are still waiting for positive signals for another corona aid package. The hope remains that a corresponding economic package could be announced before the presidential elections. Recently, however, the White House economic advisor Larry Kudlow was rather skeptical.
Meanwhile, there was positive news in the fight against the virus pandemic, because the US drug authority FDA had now approved the drug Remdesivir for the treatment of Covid-19 diseases. In addition, the German company CureVac, listed on the Nasdaq, published positive preclinical data for a vaccine candidate. Its shares rose by one and a half percent.
The shares of Gilead (Gilead Sciences) benefited with an increase of almost one percent from the move by the FDA to approve Remdesivir against the lung disease Covid-19. So far, the drug has only had an emergency approval.
The papers from Intel were the clear loser in the Dow with a minus of almost eleven percent. The chip maker missed market expectations in its data center business last quarter. Meanwhile, the prolonged production problems in combination with an unfavorable product mix are likely to put a considerable strain on the Group’s earnings power in the coming quarters, wrote analyst Ingo Wermann from DZ Bank.
The second weakest value in the US benchmark index were the shares of American Express, which lost more than three percent. Lower spending by credit card customers also weighed on the company in the third quarter.
Mattel’s shares, on the other hand, shot up by around 12 percent. Strong “Barbie” and “Hot Wheels” sales brought the toy manufacturer a strong profit jump./la/he
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