The flagship index fell 0.49% but remained above the 30,000 point mark. The Nasdaq, however, reached a new record.
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The Dow Jones and S&P 500 took a break on Wall Street on Monday after breaking new highs last week, while the Nasdaq continued its march forward.
The Dow Jones, a leading New York stock index, fell 0.49% to 30,069.79 points and the S&P 500 expanded lost 0.19% to 3,691.96 points.
The Nasdaq, with strong technological coloring, however reached a new high at 12,519.95 points, taking 0.45%.
Wall Street closed at its highest on Friday, the Dow Jones (+ 0.83%) reaching 30,218.26 points, the Nasdaq (+ 0.70%) rising to 12,464.23 points and the S&P 500 (+ 0.88%) amounting to 3,699.12 points.
For Peter Cardillo of Spartan Capital, the decline in the Dow Jones and the S&P 500 on Monday corresponds to “profit taking.”
“The main excuse for investors is their disappointment at the lack of progress in negotiations on a new stimulus plan” in the United States, says the expert.
Market players continue to hope that Democratic and Republican lawmakers will come up with compromise text before the Christmas break to bring relief to the most vulnerable homes and businesses.
Negotiations between the two camps have been deadlocked for months despite the stagnation in which a large part of the American population is plunged, hit by the economic consequences of the pandemic.
In this regard, Wall Street continued to observe with concern the still very high number of new coronavirus infections across the United States as the holiday season approaches.
More than 20 million people living in Southern California entered containment for three weeks on Monday.
On Sunday, Dr Deborah Birx, White House adviser on coronavirus issues, warned that the surge in contamination cases in the coming weeks and months would be the “worst event this country has to face and not only from a health point of view. “
The rest of the week on Wall Street should be punctuated by several highly anticipated IPOs, including that of the rental platform Airbnb and that of the food delivery company DoorDash.
Among the values of the day, the title of Eastman Kodak climbed nearly 60%. According to the Wall Street Journal on Sunday, an administrative report showed that the government mega-loan granted in July to the company to allow it to get into the pharmacy was not illegal. Due to the controversy, this credit was suspended.
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