The US stock markets showed little change and no clear direction during trading on Friday. The exciting race for the US presidency was once again the dominant topic on the market. The chances for President Donald Trump’s Democratic challenger Joe Biden have improved significantly recently. The US labor market data had a slightly positive effect on the prices.
Der Dow Jones Industrial last listed 0.24 percent lower at 28,322.68 points. This indicates a solid weekly gain of around seven percent for the leading index, after the Dow had slumped 6.5 percent in the previous week. The market-wide S&P 500 stagnated on Friday at 3510.48 points. The Nasdaq 100 rose by 0.09 percent to 12 088.33 points.
In the US presidential election, Joe Biden came a huge step closer to the White House. This was in the lead on Friday when the votes were counted in four of five states that were still contested. He also overtook incumbent Donald Trump in Georgia and Pennsylvania. However, his lead is still very narrow. Trump made it clear that he did not want to come to terms with defeat.
The recovery on the US labor market accelerated in October: employment rose faster than expected and the unemployment rate fell more sharply than previously forecast.
T-Mobile US fell below the individual stocks with a profit of 5.8 percent. The US subsidiary of the Bonn telecommunications group continues to defy the corona crisis after taking over smaller rival Sprint. After the third quarter, T-Mobile US boss Mike Sievert raised the targets for operating profit and customer growth. Analysts praised the strong quarterly figures across the board.
The world’s largest travel agent, Uber suffered a heavy loss in the third quarter due to the corona pandemic. The investors had apparently expected worse, because the papers rose by 6.9 percent.
There was also news from the computer game manufacturer Electronic Arts who disappointed with its view. The shares fell 7.1 percent./edh/he
ISIN US2605661048 US6311011026 US78378X1072
AXC0358 2020-11-06/20:09
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