NEW YORK (dpa-AFX) – Investors are likely to continue to be cautious about the US stock exchanges on Monday. For the Dow Jones Industrial, however, thanks to new hopes of an economic stimulus package soon, there are signs of a positive start: the broker IG estimated the leading index 0.2 percent higher to 28,672 points one hour before the start. He had immediately made up for a setback to a low in the previous week. Should it continue to rise, it would be at 28,958 points, a high since the beginning of September.
Statements by US politician Nancy Pelosi are seen as support for New York stock values. With a deadline set until Tuesday, the spokeswoman for the House of Representatives had aroused hope that the deadlocked talks about new aid measures before the US elections could still move. On the US broadcaster ABC News, the Democrat increased the pressure on the Republican government around President Donald Trump with fresh statements. The latter recently proposed a package worth around $ 1.8 trillion, but the Democrats are calling for more.
According to market analyst Timo Emden from Emden Research, investors currently do not want to be carried away to larger commitments. “It is the increased uncertainty surrounding the corona pandemic, the strained patience in the struggle for a US aid package and the ever-approaching US presidential election that has made investors more cautious,” said the expert.
The oil company ConocoPhillips provided the pre-market discussion with the planned takeover of the oil shale company Concho Resources. The Bloomberg news agency had recently reported on talks between the two corporations, driving Concho shares up. Before the trading day, both shares reacted again with gains of up to 2.7 percent to the fact that 1.46 Conoco shares were offered for each Concho share.
Pfizer are still worth a look on Monday because of the ongoing search for a corona drug. Before the trading day, the shares of the pharmaceutical company, which had risen by almost four percent on Friday, now advanced again by 1.4 percent. Before the weekend, Pfizer had announced that it could apply for an emergency vaccine approval in the United States in November.
The reporting season, which started the previous week mainly in the banking sector, is waiting in line at the beginning of the week. The results of the IT group IBM for the third quarter are not expected until after the hours of trading on Monday. On the economic side, too, the daily agenda has little to offer. Numerous speeches by officials of the US Federal Reserve might be worth a look./tih/jha/
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