Wall Street takes profit, but support US uncertain

Investors in New York went home with a profit on Thursday. Optimism about an agreement for a massive support package from Washington got a bit of a cheek, the Dow Jones index just got a profit after Republican and Democrats didn‘t seem to reach an agreement. At the bottom, oil companies dangled with heavy losses.

The Dow Jones index closed with 0.1% profit at 27,816.90 points.

The S&P 500 retained 0.5% profit at 3380.80 points. The Nasdaq went to 1.4% increase at 11,326.51 points.

The number of US WW benefits claimed, which was slightly lower than expected at 837,000 and remained fairly stable for the fifth consecutive week, and renewed visibility of an incentive package from Washington made investors positive.

US Treasury Secretary Steven Mnuchin spoke to the Democratic President of the House of Representatives Nancy Pelosi on Wednesday about a comprehensive support package for the world’s largest economy. Both sides would continue talks later, while a vote for the Democrats‘ plan was on the role.

A downside between the figures was, on the one hand, the increase in consumer spending in August, but on the other hand, the decline in income of Americans, which accounts for over 70% of GDP.

After opening the scholarships, market researcher ISM came up with the figure on industrial activity in September. With 55.4 index points, this lagged behind the 56.4 points of expectations. The figure of researcher IHS Markit also lags behind.

US figures of construction expenditure were also published last month, which is also a growth indicator. They were much better at IHS Markit: 1.4% increase, with an expectation that was half lower.

The coronavirus remained strong. According to Reuters, the American Food and Drug Administration (FDA) expanded its research into a serious illness in a patient who participates in producer Astrazeneca’s coronavaccintest and looked at other patients.

US markets responded to European procurement manager figures, which were 53.7 points in line with expectations. Anything above 50 means growth. It is mainly driven by Germany.

Flight elevations were also manned. The effective remuneration for ten-year US debt increased by three basis points to 0.707%. Gold became almost 1% more expensive and exceeded $1900, silver 2.1% while US oil fell almost 5% in price.

Boeing positive

Microchip Technology recorded 5% profit at the top of the S&P500.

Aircraft manufacturer Boeing became worth 4.4% more after the aircraft manufacturer received preliminary approval from the head of the Federal Aviation Administration for the modifications to the modified aircraft 737 MAX. Some aircraft of the type crashed earlier.

Among other things, Boeing approached Delta Airlines to buy tens of 737 Max aircraft, according to Reuters. Delta Airlines won 1.6%.

Clothing and sports brands such as GAP (4%), Under Armour (+3.5%), LBrands (+3.5%) won ground.

Moderna lost 1%. The creator of a coronavaccin reported that it was not ready until 2021, and not as President Trump wanted for Election Day, November 3.

Technology funds Apple, Microsoft and Tesla also made substantial profits.

Bed Bath & Beyond rose 25% after the company had published better than expected second-quarter figures.

Nikola, the manufacturer of battery trucks under fire from hedgefunds that detect malicious operations, increased a further 7%. GM would expand the existing equity interest.

At the bottom of the index oil companies. There energy company Valero recorded 7% losses, Haliburton, supplier to the oil sector, fell 6% and Marathon lost 3.5%. Baker Hughes stood at 2.1% loss. ExxonMobile, Philips 66 Black