NEW YORK (dpa-AFX) – After heavy losses on the US stock exchanges at the beginning of the week, the standard values continued to fall on Tuesday. The technology-heavy Nasdaq stock market stabilized. Neither economic and sentiment data nor numerous quarterly reports provided a clear overall direction. At the same time, the number of new corona infections continues to rise worldwide and the approaching presidential elections are also causing uncertainty.
The Dow Jones Industrial (Dow Jones 30 Industrial) closed with minus 0.80 percent to 27,463.19 points. On Monday, after an already weak previous week on the stock market, the Wall Street Index initially fell below the 28,000 mark and then at times to its lowest level since the end of September. But on Tuesday it wasn’t that steep downhill.
The market-wide S&P 500 fluctuated between moderate gains and losses and ultimately fell by 0.30 percent to 3390.68 points. The technology-heavy selection index NASDAQ 100 rose 0.82 percent to 11,598.95 points.
On the business side, it was noticeable that house prices rose much more sharply than expected in August and that US companies continued to invest in larger purchases such as machines despite the tense corona situation. The fifth increase in a row was reported in September after orders for durable goods collapsed in the spring due to the corona. However, the data on consumer sentiment in October produced negative results: the consumer mood surprisingly clouded over.
With the upcoming presidential election in view, analyst Ricardo Evangelista from the broker ActivTraders expects fewer fluctuations on the stock exchanges for the time being until a result about the future occupation in the White House becomes apparent. At the same time, he attaches even greater weight than usual to the elections in view of the pandemic, the China conflict and increasing polarization. The effects are also noticeable in several market-sensitive areas, including the dispute over a new stimulus package./ck/he
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