New York equities: reluctance at the end of a rather weak week

The US benchmark index Dow Jones 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 was down 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.

Gilead’s shares benefited from the FDA’s move to approve Remdesivir against the lung disease Covid-19 with a plus of almost one percent. 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

(AWP)

Share on facebook
Facebook
Share on pinterest
Pinterest
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on email
Email

Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Trending