New York stocks: losses – uncertainty surrounding corona aid package

The Dow Jones Industrial was most recently 0.60 percent lower at 28,435.70 points. The market-wide S&P 500 fell on Monday by 0.69 percent to 3459.63 points. The technology-heavy selection index Nasdaq 100 lost 0.73 percent to 11,765.34 points.

On Wall Street, investors mainly discussed the latest statements by US politician Nancy Pelosi. With a deadline set until Tuesday, the spokeswoman for the House of Representatives had awakened hope that there could still be movement in the deadlocked talks about new aid measures before the US elections. On the US broadcaster ABC News, the Democrat increased the pressure on the Republican government around President Donald Trump with fresh statements. The latter recently proposed a package worth around $ 1.8 trillion, but the Democrats are calling for more.

According to market analyst Timo Emden from Emden Research, investors currently do not want to be carried away to larger commitments. “It is the increased uncertainty surrounding the corona pandemic, the strained patience in the struggle for a US aid package and the ever-approaching US presidential election that has made investors more cautious,” said the expert.

At the top of the Dow, Intel’s shares gained 1.7 percent. According to a press report, the chip manufacturer wants to sell a subsidiary for ten billion US dollars. Intel is negotiating with its South Korean industry colleague SK Hynix about the acquisition of the semiconductor memory specialist, reported the “Wall Street Journal” (“WSJ”).

The oil company ConocoPhillips also provided a topic of discussion with the planned takeover of the oil shale company Concho Resources. The Bloomberg news agency had recently reported on talks between the two corporations, driving Concho shares up. Concho shareholders will now be offered 1.46 shares of ConocoPhilips for 1 share: it would be the largest takeover in the oil shale industry this year. The shares of Concho and ConocoPhilips lost initial profits in the gloomy environment and were most recently around one percent in the red.

Finally, Pfizer’s papers were still in view because of the ongoing search for a corona drug and were still marginally in the black. On Friday they had already tightened by almost four percent. Before the weekend, Pfizer had announced that it could apply for an emergency vaccine approval in the US in November. / La / he

(AWP)

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