Börse Express – ROUNDUP / New York Stocks: Dow drops below 28,000 points

The Dow Jones Industrial worries about rising new infections and dwindling hopes for further corona economic aid before the US presidential elections
heavily loaded at the start of the week. In early trading, the world’s best-known stock market barometer fell below the 28,000 mark and thus to its lowest level in around three weeks.

Most recently, the Dow stood at 27 911.88 points, which was a minus of 1.50 percent. The market-wide S&P 500 gave on Monday by 1.06 percent to 3428.76 points. The technology-heavy selection index Nasdaq 100 on the other hand held up a little better. It fell by a relatively moderate 0.36 percent to 11,649.48 points.

At the end of last week, there was still the slightest hope that another corona aid package to support the economy could be passed before the presidential elections in early November. This confidence is now almost imperceptible after House Speaker Nancy Pelosi and US Treasury Secretary Steven Mnuchin broke off their talks. They accused each other of “having changed the negotiating rules” afterwards.

The Chinese government announced sanctions against US companies after the sale of new US weapons to Taiwan, which also weighed on mood on the stock market. “We will impose sanctions on US companies involved in arms sales,” said Zhao Lijian, a spokesman for the Beijing State Department. China has already pointed out several times that arms sales to Taiwan seriously undermine the one-China principle, he criticized.

The shares of the aircraft manufacturer and armaments company Boeing were then in the Dow the biggest losers with minus 3.1 percent. In the S&P there were Lockheed Martin by 2.1 percent after and Raytheon Technologies even by 3.3 percent.

The only stock in the Dow with price gains was Apple
with 0.4 percent. The iPhone manufacturer will present its quarterly figures this Thursday. Analysts are optimistic. JPMorgan, for example, expects Apple to moderately exceed market expectations. In addition, the outlook has room for improvement, as data from the suppliers speak for higher production figures for the new 5G-capable iPhones, according to a recent study by the US bank.

The papers from Otis Worldwide lost 2.5 percent on the Nyse after better than expected numbers in the third quarter. However, they had only climbed to a record high at $ 66 in mid-October. The elevator manufacturer was only floated on the stock exchange in the spring via a spin-off by United Technologies. The reason were conditions that the conglomerate had to meet for the takeover of Raytheon Technologies. United then renamed itself Raytheon Technologies.

In the Nasdaq selection index 100 were the shares of the toy manufacturer Hasbro At the bottom with minus 8.5 percent. The market complained that the quarterly report presented was not as strong as the one recently published by the competitor and Barbie manufacturer Mattel
vorgelegte./ck/he

 ISIN  US2605661048  US6311011026  US78378X1072

AXC0233 2020-10-26 / 15:58

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