Dow under pressure for early weekend on Friday as Home Depot, Goldman Sachs stocks slump

Market snapshot

Getty Images by Johns Izel / AFP

U.S. The stock index saw modest losses early on Friday, while the index was trying to avoid a three-session weekly loss amid a decline in technology stocks.

The day’s trading action marks the quadruple witch, referring to the simultaneous expiration of single-stock options, single-stock futures and stock-index options, and stock-index futures, traditionally associated with some intraday volatility.

How are equity benchmarks working?

The Dow Jones Industrial Average (DJIA) was trading down 90 points, or 0.3%, at 27,805, while the S&P 500 Index (SPX) was up around 6 points, or 0.2%, at 35,351, but with some gains and losses at the start. Was swinging in between. Trade. The Nasdaq Composite Index (COMP) is trading at 10,908 on the break-even line.

On Thursday, the Dow closed 130.40 points, or 0.4%, lower at 27,901.98, breaking a four-session winning streak. The S&P 500 index fell 28.48 points to close at 3,357.01, down 0.8% from its 50-day moving average after a momentary decline of about 3,339. The Nasdaq Composite retreated 140.19 points, or 1.3%, to 10,910.28.

For the week, the Dow is on pace for a weekly gain of 0.5%, while the S&P 500 is targeting 0.2% growth and the Nasdaq Composite is focusing on a 0.4% weekly gain.

What’s going on in the market?

Market participants are seeing somewhat listed trading early on Friday as the UK equity benchmark sought to maintain modest weekly gains over the weekend.

Investors squabbled over the long-term impact of the Federal Reserve’s policy update on Wednesday, with the central bank signaling that economic recovery could be prolonged, and at least for others there would be no tendency to raise interest rates. Three or four years, the market is still turning.

However, investors continue to find progress on Washington’s legislators’ financial stimulus negotiations, which many see as crucial to sustaining current gains and advancing markets amid the economic weakness caused by the COVID-19 epidemic.

Reports suggest that Democrats and Republicans are at a standstill in the second round of coronavirus relief, despite President Donald Trump’s urgency to make the deal soon. Lawmakers, however, plan to introduce a bill in mid-Friday, which would fund the government in mid-December.

The House Democrats passed a r. trillion trillion in relief bill in May, but recently said in talks with White House officials that they would accept the ૨ 2.5 trillion deal, according to the Wall Street Journal.

House Speaker Nancy Pelosi said Democrats could push for more than their previous 2. 2.2 trillion offer but she was unwilling to advocate anything less than her low offer.

“When we go into a negotiation it’s about allocating resources,” he was quoted as saying in a press briefing by Hill on Thursday. “But it’s hard to see how we can go down if you need more.”

To readCoronavirus telly: Covid-19 top 30 million, 946,490 deaths and global cases close to 200,000 US deaths

The Fed, meanwhile, is launching a second phase of strain for the banking sector amid the coronavirus epidemic and is considering raising dividend payments and share buybacks on the industry.

In economic reports, the US current account deficit widened sharply in the second quarter, a measure of the country’s debt to other countries. The current account deficit widened from સુધ 111.5 billion in the first quarter to જ 170 billion.

Looking ahead, investors are looking for a report on consumer sentiment at 10 a.m. Eastern time, while a speech by St. Louis Fed President James Bullard at the same time. Atlanta Fed President Rafael Bostick speaks at 12 p.m.

In which stocks is it concentrated?

• XL escapeT, the provider of electric vehicle technology, said on Friday that it has agreed to merge with Pivotal Investment Corporation II (PIC), a special purpose acquisition corporation or SPAC, in a deal with a pro-form enterprise value of about 1 1 billion. Shares of PIC rose 12%.
• Swiss based shares Roche Holding A.G. (CH: ROG) On Friday, the drugmaker noted that hospitalized COVID-19 patients were less likely to receive mechanical ventilation than those taking placebo with rheumatoid arthritis. U.S.-listed Roche shares were up 1.2%.
• Shares of U.S. Steel Corp.. (X) Rising nearly 4% on Friday, the steelmaker provided a bullish performance in the third quarter, including signs of a “significantly better” for its flat-rolled business and signs of a boom in the tubular business.
• The U.S. Department of Commerce said Friday it is banning transactions involving Tencent (HK: 700) WeChat and Bytens ticket ok. No mention of the order Oracle (ORCL) struck a deal with Tiktok but said “the president has provided until November 12 to resolve national security concerns addressed by Tiktok.” Shares of Oracle changed slightly while shares of Tencent closed up 0.4%.
• Shares of Tesla Inc.. (TSLA) was up 4.5% in early trading on Friday.

How do other markets work?

On the second day of the Fed’s decision, yields on the 10-year Treasury note (BX: TMUBMUSD10Y) fell 1.4 basis points to 0.67%. Bond prices move upside down.

The ICE US Dollar Index (DXY), which tracks Greenback’s performance against its main rivals, closed up 0.1% at 92.913.

Gold futures (GCZ20) rose 0.3% on Come Max to 95,957.10. U.P. With crude oil benchmark (CL) futures reaching 5 cents or less than 0.1% a barrel, OPEC + stressed the importance of adhering to the output cut during its monthly meeting on Thursday.

The Stocks Europe 600 Index (XX: SXXP) is down 0.4% on Friday and the UK benchmark FTSE 100 (UK: UKX) is down 0.5%. In Asia, Hong Kong’s Hang Seng Index (HKSI) closed down 0.5% and the Shanghai Composite (CN: SHCOMP) lost a whopping 2.1%. Japan’s Nikkei (JP: NIK) rose 0.2%.