New York Stocks: Moderate losses – Vaccine developers in focus | 11/20/20

NEW YORK (awp international) – The Dow Jones Industrial fell moderately on Friday. The best-known American share index thus continued the zigzag course of the past few days at a high level. Investors will probably have to wait a little longer for the round and unprecedented mark of 30,000 points. The focus was once again on news about the developers of corona vaccines.

Most recently, the Dow fell 0.46 percent to 29,346.64 points, which is heading towards a similarly high weekly minus. The market-wide S&P 500 lost 0.20 percent to 3574.74 points on Friday. For the technology-heavy Nasdaq 100, which had also had a weak start, it was recently up 0.04 percent to 11,989.73 points.

At the beginning of the week, the US leading index climbed to a record high thanks to the hope of another promising corona vaccine. But then, given the high number of infections, a bit of disillusionment set in on the market.

A dispute between the Treasury Department and the Federal Reserve over financial corona aid is currently causing a bad mood among investors. It is about funding that the government has used to back several central bank aid programs. The ministry wants to get the funds back and phase out some of the central bank programs. The central bank is reluctant to do this and pleads for the aid to continue.

Price-moving company news was rare before the weekend. The shares of Biontech and Pfizer gained around nine and a half and 1.7 percent respectively. The Mainz-based company and the US pharmaceutical giant had announced that they would apply to the US FDA for emergency approval for their corona vaccine BNT162b2 this Friday. Biontech had already announced that delivery could begin at the end of this year, should there be a permit. Biontech and Pfizer are the first western manufacturers who published promising study results a week and a half ago and want to apply for emergency approval from the FDA.

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For the titles of competitor Moderna, who posted good data on its vaccine a week later, it went up by almost five and a half percent. EU Commission chief Ursula von der Leyen said that the vaccines from Biontech and Pfizer as well as from Moderna could get conditional marketing approval in the second half of December – if everything goes on without any problems. The European Medicines Agency announced.

Shares in the software company for video conferencing Zoom Video gained almost six and a half percent in view of the corona infection figures. So they continued their recovery of the past few days.

Meanwhile, the shares of Gilead Sciences lost 0.8 percent. They suffered from a report in the British Medical Journal, according to which the World Health Organization (WHO) advised against the use of the once promising Gilead drug Remdesivir for Covid-19 diseases.

At Foot Locker, shareholders had to cope with a price loss of around four and a half percent despite good quarterly figures. At the start of the stock market, however, the sporting goods manufacturer’s shares had also reached their highest level in a year

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