NEW YORK (awp international) – The US stock markets started the new week with a clear recovery. The Dow Jones Industrial rose 1.51 percent to 26,902.09 points in early trading the day before the US presidential election. In the previous week, the US leading index had recorded the weakest performance since the outbreak of the corona pandemic in March with a loss of 6.5 percent.
The market-wide S&P 500 rose by 1.30 percent to 3312.38 points on Monday. The Nasdaq 100 advanced 0.86 percent to 11,148.42 points.
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.
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 authors of Tiktok videos 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.
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.
The cosmetics group Estee Lauder announced after strong quarterly figures a ten percent increase in its quarterly dividend, which initially caused the shares to rise by more than 5 percent. Most recently, however, the papers were still 1.5 percent up. After the market closes on Wall Street, the online payment service PayPal and the food manufacturer Mondelez also present their business figures./edh/mis
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