NEW YORK (awp international) – On Wall Street, investors also acted cautiously at the beginning of the week. The Dow Jones Industrial fluctuated on Monday around its closing level on Friday and was most recently 0.08 percent lower at 28,584.31 points. The US leading index had immediately made up for a setback to a low of a week in the previous week.
The market-wide S&P 500 fell 0.13 percent to 3479.41 points on Monday. The technology-heavy selection index Nasdaq 100 lost 0.46 percent to 11,797.82 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 there could still be movement in the stalled talks about new aid measures before the US elections. On the US broadcaster ABC News, the Democrat increased the pressure on the Republican government around President Donald Trump with fresh statements. 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 are currently reluctant 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.
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 advanced by around 1 percent and those of ConocoPhilips by 0.4 percent.
Pfizer’s papers were still in focus because of the ongoing search for a corona drug and gained a good one percent. 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 United States in November. / La / he
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