NEW YORK (dpa-AFX) – Little changed with a positive tone, Wall Street should open on Wednesday. The broker IG recently valued the Dow Jones Industrial (Dow Jones 30 Industrial) 0.3 percent higher to 28,770 points. Fresh US economic data had little effect on pre-trading. For example, producer prices rose by 0.4 percent in September, which is the first year-on-year increase since March. Economists had expected growth of 0.2 percent.
Market analyst Timo Emden from Emden Research noted that with the approaching US presidential elections, the hanging game over the US economic stimulus package and the increasing number of new infections with Covid-19, the appetite for risk remains manageable. “Many investors are currently waiting in vain for the starting shot of a year-end rally. With the reporting season picking up again in the United States, the smoldering negative factors could be covered up, at least for a short time,” believes the expert.
The flourishing stock exchange trading during the Corona crisis gave the US investment bank Goldman Sachs a strong third quarter. Profit climbed 94 percent year-on-year. Goldman increased earnings by 30 percent. Things went particularly well in the trading division with bonds, foreign exchange and commodities, which is so important for the Wall Street giant. Here the revenues increased by 49 percent. The share reacted before the market with a gain of 2.1 percent.
Impending loan defaults in the Corona crisis and low interest rates continue to weigh heavily on US bank Wells Fargo (Wells FargoCo). In the third quarter, the money house earned 57 percent less than in the previous year. Income fell 14 percent. Analysts had expected better numbers, the share was listed before the market 1.8 percent in the red.
High provisions for bad loans in the Corona crisis did not consume Bank of America’s profits quite as much in the third quarter as before. With a surplus of 4.9 billion US dollars (around 4.2 billion euros), the money house earned around 16 percent less than a year earlier. The papers lost 2 percent before the market.
The many Covid 19 infections did not eat up as much profit at the US health insurer UnitedHealth in the third quarter as feared. The bottom line was a surplus of around 3.2 billion US dollars, around ten percent less than a year earlier. The UnitedHealth stocks gained 0.9 percent in value before the IPO.
The debacle surrounding the unlucky 737 Max jet and the corona crisis put US aviation giant Boeing under further pressure. In the third quarter, Boeing only delivered 28 aircraft, compared to 63 in the same period last year. Overall, Boeing lost 381 orders from the beginning of the year to the end of September. The Boeing shares advanced 0.4 percent./edh/fba
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