Wall Street closes down, Nike stands out positively | Financial

The Dow Jones index eventually lost 1.9 percent to 26,763.13 points. The S&P 500 closed 2.4 percent lower at 3,236.92 points and tech gauge Nasdaq lost 3 percent to 10,632.99 points.

Nike won almost 9 percent. The company has benefited in recent months from sharply increased sales through its own webshop. Sportswear makers Under Armor and Lululemon Athletica followed Nike’s wake with gains of nearly 5 percent.

Tesla

Tesla (minus 10 percent) continued the loss series. Topman Elon Musk of the maker of electric cars said that the production of the new cheaper batteries and the affordable car will still be a few years away. The company is also suing the Trump administration for the additional costs it had to incur due to taxes on Chinese parts.

JPMorgan Chase, who may be fined $ 1 billion, lost 1.6 percent. The bank is said to be about to reach a settlement with the US authorities after an investigation into market manipulation.

Johnson & Johnson

Johnson & Johnson (J&J) rose 0.3 percent. The pharmaceutical company starts testing his experimental corona vaccine on 60,000 subjects. The vaccine is being developed by subsidiary Janssen in Leiden. The intention is that the first results will be published by the end of this year and that a vaccine must be ready for emergency use by the beginning of next year.

Delta Air Lines (minus 2.1 percent) was also in the spotlight. The airline is said to be working on an arrangement with aircraft maker Airbus about postponement of deliveries. The company would also work on a deal in which it sells aircraft and immediately rents them again. All of this is meant to get through the crisis.

Service sector

Investors also processed figures on the industry and services sector. Industry activity grew slightly faster than a month earlier. The services sector, on the other hand, grew in a slightly slower gear.

The euro stood at USD 1.1661, against USD 1.1672 at the close of the European stock markets. A barrel of American oil cost 0.6 percent less at $ 39.57. Brent oil fell 0.6 percent in price to $ 41.49 a barrel.

–