Wall Street makes big profit after false start | Financial

Investors were initially led by disappointing news about the weekly number of benefit claims in the United States. Payment claims came out higher than expected at almost 3 million. In the past eight weeks, a total of 36.5 million Americans have already turned to the government for support to get through the corona crisis.

The stock market turnaround was partly due to a recovery in financial funds, which have lost heavily in recent weeks due to concerns about their credit. For example, American Express gained 7.4%. Citigroup gained 3.6%, Bank of America rose 4%.

In the medical field, United Health Group excelled with a profit of 4.5%. Network equipment manufacturer Cisco Systems increased 4.5%. The company exceeded expectations with its results, aided by the strong demand for network equipment due to the many teleworking jobs at companies during the corona crisis.

Industrial conglomerate 3M reported sales figures for April. They went down considerably due to the corona crisis due to weaker demand for 3M industrial goods. The company did sell more mouth masks. The share fell 0.1%.

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