23.10.2020 – 19:53 | Source: dpa-AFX | Reading time about 2 minutes.
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NEW YORK (dpa-AFX) – At the end of a trading week marked by losses, investors on Wall Street have acted cautiously. The most important stock indices traded slightly in the red on Friday. The focus was on a number of mixed corporate reports on the past quarter.
Der US-Leitindex Dow Jones Industrial -0,10% last fell by 0.37 percent to 28 259.95 points. On a weekly basis, this indicates a loss of more than 1 percent.
The market-wide S&P 500 +0,32% hardly moved on Friday with minus 0.01 percent to 3453.26 points. The technology-heavy selection index Nasdaq 100 +0,25% fell by 0.25 percent to 11,634.24 points.
Investors are still waiting for positive signals for another corona aid package. The hope remains that a corresponding economic package could be announced before the presidential elections. Recently, however, the White House economic advisor Larry Kudlow was rather skeptical.
Meanwhile, there was positive news in the fight against the virus pandemic, because the US drug authority FDA had now approved the drug Remdesivir for the treatment of Covid-19 diseases. In addition, the German company Curevac, listed on the Nasdaq, published +0,12% positive preclinical data for a vaccine candidate. Its shares rose by one and a half percent.
Gilead’s shares -4,27% benefited from the FDA’s move to approve Remdesivir against the lung disease Covid-19 with an increase of almost one percent. So far, the drug has only had an emergency approval.
The Intel papers -1,37% were the clear loser in the Dow with a minus of almost eleven percent. The chip maker missed market expectations in its data center business last quarter. Meanwhile, the prolonged production problems in combination with an unfavorable product mix are likely to put a considerable strain on the Group’s earnings power in the coming quarters, wrote analyst Ingo Wermann from DZ Bank.
American Express stocks were the second weakest in the US benchmark index -0,12%that lost more than three percent. Lower spending by credit card customers also weighed on the company in the third quarter.
The Mattel Shares +16,17% however, soared by around 12 percent. Strong “Barbie” and “Hot Wheels” sales brought the toy manufacturer a strong profit jump./la/he
Source: dpa-AFX
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