NEW YORK (dpa-AFX) -Wall Street recovered a little from its weak start to the week on Tuesday after a nervous trade. Recently, investors were increasingly hoping for an economic stimulus package before the upcoming presidential election. The most recent statements about the chances of success were rather contradicting.
The Dow Jones Industrial closed 0.40 percent higher at 28,308.79 points, after having gained 1.4 percent in the meantime. At the beginning of the week, the US benchmark index slipped 1.4 percent into the red.
The market-wide S&P 500 gained 0.47 percent on Tuesday to 3443.12 points. The technology-heavy selection index Nasdaq 100 rose 0.37 percent to 11,677.84 points.
House Democratic spokeswoman Nancy Pelosi recently said the Democrats and the White House were nearing a successful conclusion of the negotiations; however, the Republican-controlled Senate is likely to continue to advocate a smaller deal.
The deadline previously set by Pelosi for rapprochement with the US government was supposed to expire on Tuesday. Most recently, however, Pelosi apparently put this ultimatum into perspective and said that it would be enough if the bill was finalized by the end of the week. Meanwhile, the corona virus continues to rage in the United States.
The reporting season among the Dow stocks is picking up speed again after a break on Monday. At IBM, the flourishing business with cloud services did not hide the fact that the IT veteran continued to let up in sales in the third quarter. Due to the continued increased uncertainty in times of pandemics, the group again did not provide an annual outlook. The papers sagged as the clear bottom in the Dow by 6.5 percent.
Things looked better at Procter & Gamble and Travelers, with increases of 0.4 percent and 5.6 percent at the top of the index for the respective papers. Thanks in part to the demand for hygiene products, Procter revenues increased in the first quarter of the business year and the group increased its sales and profit targets for the year as a whole.
The insurer Travelers had convinced the investors with a doubled quarterly profit, although this was also related to special charges in the same period of the previous year. In the third quarter, the group was even able to release loss reserves from previous years, which cushioned the increased burdens from natural disasters.
In addition, the Goldman Sachs shares gained a good one percent. In the corruption and money laundering affair in Malaysia, the investment bank is apparently facing the long-awaited agreement with the US judiciary. Goldman Sachs will pay the Justice Department more than two billion US dollars (1.7 billion euros), the Bloomberg news agency reported, citing people familiar with the matter.
The euro was last listed at 1.1824 US dollars. The European Central Bank had set the reference rate at 1.1810 (Monday: 1.1785) dollars. The dollar cost 0.8467 (0.8485) euros.
The futures contract for ten-year Treasuries (T-Note-Future) was recently quoted in view of the gains on Wall Street 0.06 percent lower at 138.76 points. In return, the yield on ten-year bonds rose to 0.791 percent./la/he
By Lutz Alexander, dpa-AFX
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