Good job numbers are driving prices up on Wall Street, but the televised debate during the presidential campaign has had little impact on stock markets. The dollar lost a little while the euro reversed losses.
The failed deal with a new Corona aid program weighed on Wall Street. However, due to convincing economic data in the USA, a strong plus was recorded. In addition, talks on the rescue package are set to continue, which will ultimately support the market, he said. The Dow Jones Index rose from 28,000 points, but failed negotiations over a $ 2.2 trillion aid package brought the market back. No agreement was reached during the meeting between Nancy Pelosi, Speaker of the House, and Treasury Secretary Steven Mnuchin.
Still, the House of Representatives, in which the Democrats have a majority, will vote on the aid package. A later approval in the Senate, where the Republicans have a majority, is considered unlikely.
From Dow Jones Index finally rose by 1.2% to 27,782 points after the index was already 28,026 points at the daily high. From S&P 500 rose by 0.8 percent to 3363 points Nasdaq Composite rose by 0.7 percent to 11,168 points. There were 1,749 winners (Tuesday: 1114) versus 1,309 (1,900) losers. 65 (107) titles remained unchanged.
A series of good US economic data initially led to a significant price increase. The focus was on the labor market report of the private service provider ADP for September. This created 749,000 private sector jobs, while economists estimated 600,000. The report is viewed as an indicator of Labor market report the US government on Friday. The employment situation improved only slowly after the spring crisis, as shown by weekly data on initial jobless claims.
The televised duel gives little boost
additionally gross domestic product of the second quarter published in third reading. he therefore decreased by 31.4% and thus hardly less than the interim rate of minus 31.7 percent.
In contrast, the eagerly awaited American TV duel between President Donald Trump and his challenger Joe Biden can’t give a bigger impulse. The expected bitter exchange of blows took place in the television debate. Trump did not respond to whether, if defeated, he would urge his supporters to remain calm and not participate in riots, although it would be some time after the November 3rd election date. The outcome is ultimately determined. Trump had already disrupted the markets last week by refusing to guarantee a peaceful transfer of power after the elections.
Individual values have fallen micron 7.4 percent. The memory chip maker gave a disappointing outlook by reporting its fourth fiscal quarter figures. In addition, Micron announced that it was not clear when a license would again allow sales to one of Huawei’s largest customers. The Trump administration has banned the Chinese telecommunications supplier from buying American chip products.
Walt Disney fell 1.1 percent. The entertainment group has announced 28,000 job cuts in their American amusement parks. US airline stocks made gains. The US government has reached an agreement with seven of the country’s largest airlines on government financial support in the corona crisis. The aid program is valued at $ 25 billion. The papers of American Airlines and United Airlines increased by 0.3 and 0.7 percent respectively.
The gold price is falling slightly
The actions of. Successfully debuted on the stock market Palantir Technologies. The initial price was € 10 after a “reference price” of € 7.25 per share for direct listing. This resulted in a valuation of around $ 22 billion. The share closed at € 9.50.
The beneficiary of political and economic contingencies was dollarThis is considered a “safe haven” in times of crisis. However, the dollar index gave up its gains and lost 0.1%. From Euro again recovered from its brief decline below the € 1.17 mark and was able to regain the level.
From Gold price fell by 0.6 percent to 1,889 euros. Prior to the Trump-Biden debate, many investors reportedly bought gold as a hedge. Jeffrey Halley from Oanda explained the drop in prices. From a purely financial policy point of view, the debate was “uneventful,” added Halley.
the Oil price showed an inconsistent trend. Fears that the corona pandemic will reduce demand for oil has slowed them down. The price of WTI was supported by weekly US inventory data, which surprisingly showed a decline for the third straight week. They fell 1.98 million barrels, while analysts expected an increase of 0.8 million barrels, according to the Energy Information Administration (EIA). Contrary to expectations, gasoline stocks rose slightly. The price of a US WTI keg rose 1.7% to € 39.95. Brent oil fell 0.2% to € 40.95.
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