NEW YORK (dpa-AFX) – The US stock exchanges beckon a recovery attempt on Monday. The broker IG valued the leading index Dow Jones Industrial one day before the US presidential election, 1.43 percent higher to 26,880 points. Last week was the weakest for what is probably the world’s best-known stock index since the outbreak of the global corona pandemic in March – the number of new infections is currently also rising sharply in the USA.
In the polls for the presidential election, Democratic candidate Joe Biden leads by a long way ahead of Republican incumbent Donald Trump. The opinion polls also give the Democrats a good chance of retaining the majority in the House of Representatives and regaining control of the Senate after six years. Biden needs the two chambers of Congress to move something forward politically. The House of Representatives and a good third of the seats in the Senate will be voted on November 3rd.
In the coming days, further important events will be on the agenda with the Fed’s interest rate decision and the US monthly labor market report.
Trump suffered a defeat the day before the election: A judge in the state of Pennsylvania suspended an order from the Department of Commerce that would mean the complete end of the Chinese video app Tiktok in the USA on November 12th. It issued an injunction at the request of three Tiktok video writers who make a living on the platform. A judge in Washington had previously suspended the download stop for the Tiktok app planned for the end of September, also with an injunction. The US government appealed against it.
The cosmetics group Estee Lauder announced after strong quarterly figures a ten percent increase in its quarterly dividend, which caused the shares to rise by over four and a half percent before the market. After the closing bell on Wall Street, the online payment service PayPal and the food manufacturer Mondelez also present business figures./gl/mis
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