The stock index is gaining ground on Friday afternoon as investors look to reach a one-week high on Wall Street, largely optimistic about the prospect of a vaccine and treatment for Covid-1 for, while U.S. In the viral outbreak and ambush. Europe.
Despite the lack of political momentum following the controversial U.S. presidential election, markets remain sensitive about the possibility of another financial aid package.
How are the stock benchmarks doing?
Dow Jones Industrial Average DJIA,
The ૨ Feb૨ point, or 1%, has risen to the level of 35 3,599, which is at 1.4.26 from its February 4 closing record.
Meanwhile, the S&P 500 Index SPX,
points The jump of 33 points reached 3, 569 reach, with a strength of 0 .. gain%, its Sept. No. The record is just shy. When the Nasdaq Composite Index COMP,
At about 11,785, 74% points, 0.5% strength.
So far this week, the Dow has risen 3..7%, the S&P 500 Index has risen 1.7%, while the Nasdaq Composite Index Comp.
Is on track for a weekly decline of 1%.
What’s going on in the stock market?
U.S. on Friday. The stock index was set to rise despite many factors that should otherwise stimulate investors.
Hopes for COVID-19 vaccines have pushed the equity benchmark toward most of the other direct weekly gains, but questions remain about the outlook for questions as fresh lockdowns have been faced considering new outbreaks of the virus in some parts of the world.
“For all the optimism about a successful vaccine delivery, the reality is that the announcement of a potential candidate, currently in Europe, as well as in the US, will not be able to stop what is happening in Europe.” CMC Markets UK A sharp increase in coronavirus infection rates, hospitalizations and eventually mortality, the note said.
To read: The market is now more sensitive to the bad news, the strategist said. Here’s what he says comes next
The U.S. on Thursday set a record for more than 67,000 coronavirus hospital admissions and a record 163,405 one-day coronavirus cases. The spread of the disease in New York City meant the daily case and positivity rate was 2.6% – and Mayor de Blasio reiterated on Thursday that it would close schools if it hit 3%.
Promising effective Pfizer PFE earlier in the week,
And Biotech BNTX,
The vaccine has encouraged investors to abandon technical stocks that benefit from a stay-at-home trend in favor of value-based dramas that could benefit from an economic recovery, but the weekend has seen a resurgence of bets during which the winner was considered. Epidemic.
Federal Reserve Chairman Jerome Powell warned investors not to overplay vaccine reports during a webcast panel event with central bankers on Thursday. “From our point of view, it is too early to evaluate the impact of the news for the path of economics, especially in the near term, with any confidence,” he said.
“The next few months could be challenging,” Powell said at the event, which included Christine Lagarde, president of the European Central Bank, and Gov. of Bank of England. Includes Rew Andrew Belly.
Meanwhile, the market is growing skeptical that another coronavirus aid package could be formulated by Congress soon, leaving a gap on the scale of the relief package between Republicans and Democrats working to help Americans and troubled businesses.
Through all the headwinds, many investors remain excited on the basis of continued financial support from the Fed, which promises favorable policies for the near future. Investors are also optimistic that the U.S. is ready for the next wave of coronavirus epidemics. And other parts of the world are better prepared.
In a speech to the Memphis Economic Club, St. Louis Fed President James Bullard said Friday that the U.S. labor market has improved at a faster pace this year than after the 2008-2009 financial crisis. “Basically unemployment has come down from the top very quickly, I’m not sure you can really exploit how shocking this is,” he said.
He also said that the new wave of USA COVID-19 needs more attention not to force a new recovery.
Meanwhile, Walt Disney Co. D.I.S. More expected results from the selection of
And Cisco Systems CSCO,
It also helped boost the shopping mood on Wall Street on Friday. Also, it is a post-manufacturing and diversified industrial company 3M co. MMM,
Friday’s sales rose 9.% to 9 9.9 billion in October.
If investors are still watching Biden’s relocation to the White House, Donald Trump is expected to win the 2020 US presidential election against Donald Nald Trump.
In economic reports, the producer-price index rose 0.3% last month, the government said on Friday. It has grown for six consecutive months since the economy resumed in May. However, wholesale inflation was largely muted. Producer prices have risen 0.4% to 0.5% in the last 12 months.
Separately, in a report on consumer sentiment by the University of Michigan, coronavirus resuscitation, U.S. 811 in November. Concerns have been raised about reaching the level of to from previous readings of.
In which stocks is it concentrated?
- Cisco Systems Inc.. Shares of Network Services, Video Conferencing Tools and Security Software rose 9.9 percent, topping the quarterly results and Wall Street estimates, and announced a new chief financial officer.
- Disney Covering its fiscal year with a second-quarter loss, the entertainment giant suffered its first annual loss in more than 40 years, but more-than-expected performance in the quarter extended further trading on Thursday. Shares rose 2%.
JTW Airways Corp.. JBLU,
Providing details of its plans to limit boardboard capacity and open all its seats for the busy holiday season, the decision was backed by “the science that recognizes the safety of aircraft cabins”. The stock rose 5.2% early Friday.
Shares of Ltd. Auto Toe Inc.
The China-based electric vehicle maker rose 1.8% after announcing its quarterly results, revealing a broader-than-expected net loss compared to revenue, beating its forecast of a steady increase in deliveries.
Shares of Spectrum Brands Holdings Inc.. SPB,
On Friday, after the house, the pet and garden care products company reported higher-than-expected profit and sales for the fourth quarter of the fiscal year. Supply interruptions.
Shares of Draftkings
The company jumped 3.7% to $ 42 after beating revenue and earnings estimates. The gambling site has lost a share of c 57 cents more than expectations of a loss of c 57 cents. Revenue was 132.8 million, beating the 131.6 million estimate.
- Dordesh Filed for public stock offer on Friday. Food delivery company Ticker will list on the New York Stock Exchange under DSH.
How are other assets traded?
10-year-old U.S. Yield on Treasury Note TMUBMUSD10Y,
There was a slight change at the level of 0.89% on Friday. Yields and bond prices move in opposite directions.
Pan-European Stocks 600 Europe Index SXXP,
Virtually ended at 385.18 on Friday and London’s FTSE 100 UKX,
0.4% lower closing.
U.S. Benchmark C.L. With the decline in oil futures.
A loss of c1 cents or 1.7% to reach c1.27d per barrel, but led to a weekly gain of 9%. Gold price GCZ20,
In the December agreement. The stock traded higher with a gain of 18.90 or 1% to higher 1,892.20 per share, but led to its biggest weekly loss since September.
ICE US Dollar Index DXY,
The currency measure, against the basket of six main competitors, fell 0.2% to 92.782.