AGI
Wall Street closed higher, optimism on the stimulus plan
AGI – Wall Street indices closed on the rise in the wake of optimism on possible progress on the US stimulus plan. At the end of trading the Dow Jones index gains 0.55% at 28,364.91 points, the Nasdaq is + 0.19% at 11,506.01 points and the S & P500 index increases by 0.52% to 3,453, 58 points. Waiting for tonight’s final presidential debate between Donald Trump and Democratic challenger Joe Biden, investor sentiment is being driven by the US weekly subsidies data, which for the first time since the start of the crisis, drop below 800,000 units . Existing home sales also did well, up 9.4% from September, and the US superindex, which rose 0.7% monthly in September to 107.2 points. But most of all, to raise the indexes are the glimmers that seem to open on the progress in the negotiations with the Republicans on the new round of financing. Today, in fact, the optimistic words of the speaker of the House, Nancy Pelosi, arrived, according to which the negotiation on aid for the coronavirus would be “on the right track”. The package is worth over 2 trillion. Renewed hopes that the economic recovery will continue, however, triggered a surge in value inventories along with a financial and energy surge. Energy jumped nearly 3% as oil prices recouped some of the losses from the day before, when a surge in gasoline supplies intensified fears of weakening demand. The financial sectors, meanwhile, were pushed up by a strong rally in bank stocks, as the favorable environment of rising Treasury yields continued. Bank of America was up 3.43% and JPMorgan Chase was up 3.54%. Meanwhile, Gilead Sciences Inc jumped 4% after the US Food and Drug Administration approved its remdesivir as a treatment for the coronavirus. Among mega blue chips, Tesla stock was up 0.75% today after the electric car maker posted its fifth consecutive quarterly profit yesterday with record revenue of $ 8.8 billion. The electric carmaker also said it was on track for 500,000 deliveries this year. Among the most active lists today is Coca-Cola which gained 1.36% after better-than-expected quarterly results with sales that fell 6% in the quarter, a marked improvement from the 26% collapse of the second quarter. Among airlines, one of the sectors most affected by the pandemic, American Airlines earns 3.18%. In the Tech sector, PayPal Holdings (-4.29%), Apple which recorded a decrease of 0.95%, Amazon with a loss of 0.24%, Facebook (-0.21%) and Netflix (-0. 80%).
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