The Dow Jones Industrial (Dow Jones 30 Industrial) gave way on Friday. The most famous American stock index thus set the zigzag course of the past few days …
NEW YORK (dpa-AFX) – The Dow Jones Industrial (Dow Jones 30 Industrial) gave way on Friday. The best-known American stock index thus continued the zigzag course of the past few days at a high level. Once again, investors waited in vain to jump over the round and never-before-reached mark of 30,000 points. The focus was on new, positively received news about the developers of corona vaccines.
The Dow expanded its losses in late trading and finally lost 0.75 percent to 29,263.48 points – the weekly minus was almost identical. The market-wide S&P 500 fell on Friday by 0.68 percent to 3557.54 points. For the technology-heavy NASDAQ 100, which was now quoted in positive territory, it ultimately went down by 0.66 percent to 11,906.44 points.
At the beginning of the week, the leading US index had climbed to a record high thanks to the hope of another promising corona vaccine. But then, given the high number of infections, a bit of disillusionment set in on the market.
A dispute between the Treasury Department and the Federal Reserve over financial corona aid is currently causing a bad mood among investors. It is about funding that the government has backed several central bank aid programs. The ministry wants to get the funds back and phase out some of the central bank programs. The central bank is reluctant to do this and pleads for the aid to continue.
Price-moving company news was rare before the weekend. BioNTech and Pfizer shares rose over nine and a half and nearly one and a half percent, respectively. According to their own information, the Mainz-based company and the American pharmaceutical giant have applied for emergency approval for their corona vaccine from the FDA. Pfizer confirmed this on Twitter.
If the active ingredient is approved, particularly vulnerable people in the United States could be vaccinated as early as mid to late December. Biontech and Pfizer were the first western manufacturers to publish promising study results and are now paving the way for emergency approval from the FDA.
The titles of competitor Moderna, which a week later posted good data on its vaccine, went up by more than five percent. EU Commission chief Ursula von der Leyen said that the vaccines from both Biontech and Pfizer as well as Moderna could get conditional marketing approval in the second half of December – if everything goes on without any problems. The European Medicines Agency announced.
Shares in the video conferencing software company Zoom Video (Zoom Video Communications) gained over six percent in view of the corona infection figures. So they continued their recovery of the past few days.
Meanwhile, the shares in Gilead Sciences lost nearly one percent. They suffered from a report in the British Medical Journal, according to which the World Health Organization (WHO) advised against the use of the once promising Gilead drug Remdesivir for Covid-19 diseases.
At Foot Locker, shareholders had to cope with a price loss of almost five percent despite good quarterly figures. Right at the start of the stock market, however, the sporting goods manufacturer’s shares had also reached their highest level in a year. According to the Berenberg analysts, the ultimately negative share price reaction is also due to the high expectations. In addition, the low volume of planned share buybacks could be interpreted as a lack of trust of the management in their own company, it said.
The euro was quite lethargic and last cost 1.1858 US dollars in New York trading. The European Central Bank (ECB) had set the reference rate for the common currency at 1.1863 (Thursday: 1.1832) dollars and the dollar cost 0.8430 (0.8452) euros. The prices of US government bonds also showed little movement: The futures contract for ten-year Treasuries (T-Note Future) gained 0.01 percent to 138.52 points. The yield on the ten-year bond was 0.83 percent./gl/he
— By Gerold Löhle, dpa-AFX —