New York stocks: Dow pays some tribute to rally – Nasdaq holds its own | 10/13/20

NEW YORK (awp international) – On Wall Street, investors took it easy after Tuesday’s recent gains. The Dow Jones Industrial was recently down 0.42 percent at 28,715.33 points, and the market-wide S&P 500 was down 0.54 percent to 3514.97 points. The previous day’s particularly strong technology-heavy selection index Nasdaq 100, on the other hand, managed an increase of 0.15 percent to 12,106.03 points.

The market is still waiting for progress in the negotiations on a new Corona economic stimulus program – with the approaching US presidential election, hopes for an early breakthrough are apparently fading. On the other hand, mostly positive company news did not arrive.

The shares of the big banks JPMorgan and Citigroup lost a good one and a half and almost five and a half percent, respectively, despite good quarterly figures. While the US industry leader surprisingly increased its profits thanks to the continuing boom in securities trading, Citigroup exceeded market expectations despite a downturn in business and a million-dollar fine.

At Johnson & Johnson, the share price fell by two and a half percent. The pharmaceutical and medical technology group temporarily suspended a study for a future corona vaccine due to an unexplained disease of a subject. Unexpectedly good quarterly figures and more optimistic expectations for the year did not help the share.

The shares of Delta Air Lines sank after another billion loss and a drop in sales in the third quarter by almost two and a half percent. The airline is now decommissioning a number of older aircraft and does not want to accept new aircraft from the European manufacturer Airbus until years later.

The eagerly awaited presentation of new products did not cause any enthusiasm at Apple. Hours before the start of the event, the anticipation that had prevailed at the beginning of the week had noticeably decreased. The introduction of the new iPhone 12 as the first Apple smartphone with super-fast 5G data transmission did not change anything: Most recently, the shares of the technology group lost around two percent.

On the other hand, Walt Disney was able to convince investors: The fact that the entertainment company is adjusting its corporate structure in the midst of the Corona crisis in order to focus more on the booming streaming market in the future pushed the shares to the top of the Dow with an increase of almost three and a half percent.

At the world‘s largest asset manager Blackrock, a surprisingly high quarterly profit resulted in a four percent price increase, with the share climbing to a record level. The titles of the online retailer Amazon benefited only moderately from the ongoing “Prime Day” shopping event, which attracts some customers with special offers, with an increase of 0.3 percent ./gl/he


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