NEW YORK (dpa-AFX) – The mood on Wall Street clouded over at the beginning of the week. The most important stock indices were in the red after a cautious start to trading. There is currently a high level of uncertainty as to whether there will be movement in the stalled talks about a new Corona aid package before the elections at the beginning of November.
The Dow Jones Industrial (Dow Jones 30 Industrial) was most recently 0.60 percent lower at 28,435.70 points. The market-wide S&P 500 fell on Monday by 0.69 percent to 3459.63 points. The technology-heavy selection index NASDAQ 100 lost 0.73 percent to 11,765.34 points.
On Wall Street, investors mainly discussed the latest statements by US politician Nancy Pelosi. 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 for President with fresh statements Donald Trump. 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.
At the top of the Dow, Intel’s shares gained 1.7 percent. According to a press report, the chip manufacturer wants to sell a subsidiary for ten billion US dollars. Intel is negotiating with its South Korean industry colleague SK Hynix about the acquisition of the semiconductor memory specialist, reported the “Wall Street Journal” (“WSJ”).
The oil company ConocoPhillips also provided a topic of 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. Concho shareholders will now be offered 1.46 shares of ConocoPhilips for 1 share: it would be the largest takeover in the oil shale industry this year. The shares of Concho and ConocoPhilips lost initial profits in the gloomy environment and were most recently around one percent in the red.
Finally, the Pfizer papers were still in view because of the ongoing search for a corona drug and were still marginally in the black. On Friday they had already tightened by almost four percent. Before the weekend, Pfizer had announced that it could apply for an emergency vaccine approval in the US in November. / La / he
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