NEW YORK (dpa-AFX) – Wall Street stabilized further on Wednesday. After the weak start to the week and a moderate recovery on Tuesday, price movements were now kept within narrow limits.
The Dow Jones Industrial (Dow Jones 30 Industrial) was last 0.03 percent higher at 28,316.40 points. The market-wide S&P 500 went up 0.12 percent to 3447.17 points and the technology-heavy NASDAQ 100 was up 0.27 percent at 11,708.80 points.
The market-defining topic continues to be the negotiations between Republicans and Democrats about new financial aid in the corona pandemic. Although the market is bullish, the news has been mixed recently. Nancy Pelosi, spokeswoman for the Democrats in the House of Representatives, has recently been rather confident. On the other hand, the Republican majority leader in the Senate, Mitch McConnell, warned against agreeing to an agreement before the presidential election. In addition, the corona infection numbers in the USA remain a risk factor for the stock market.
The experts at Index-Radar also see chart-technical risks for the Dow. More sales in the direction of 28,000 points or even up to 27,100 points are to be expected. “Upward swings, on the other hand, are likely to expire between 28,900 and 29,000,” wrote chart technology analyst Andreas Büchler.
Among the individual stocks, the shares of Snap stood out with a plus of a third. The growth of the Snapchat photo app amid the corona pandemic made a big impression on investors. Numerous analysts then raised their price targets, including JPMorgan, Credit Suisse and Barclays.
Netflix (Netflix), however, disappointed. After the corona-related subscription boom in the first half of the year, the number of customers for online video services declined sharply in the third quarter. Netflix missed its own forecast and remained far below the analysts’ expectations. The increasing competition in the streaming business is troubling the market leader. The papers slumped at the bottom of the Nasdaq 100 by more than six percent. Since the beginning of the year, however, the price has already risen sharply.
Texas Instruments’ shares fell 2.6 percent. The chip company expects more sales for the current quarter than analysts currently have on the list, but after the record high about a week ago, the positive news was no longer enough for further price increases./la/he
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