NEW YORK (Dow Jones) – After new record levels the previous week, Wall Street is under pressure on Monday. The smaller losses from the start-up business were expanded until noon local time. Still, it looks like the US stock markets will have their strongest month since 1987 behind them.
The trade continues to move between hopes for the imminent availability of corona vaccines and the currently rampant wave of corona infections.
The Dow Jones index lost 1.3 percent to 29,523 points, the S&P 500 lost 0.9 percent. The Nasdaq composite is down 0.6 percent.
“We have a lot of very good vaccine news,” said Daniel Morris, senior market strategist at BNP Paribas Asset Management. By the end of the year, it should mainly go up, with likely setbacks here and there.
The mood is clouded somewhat by the fact that the outgoing US administration under President Donald Trump is once again heating up the trade conflict with China. According to media reports, Trump wants to put China’s largest chip manufacturer SMIC and the oil giant CNOOC on the black export list. The two companies are owned or controlled by the Chinese military, it said.
On the economic side, the Chicago purchasing managers’ index for November posted a stronger than expected decline to 58.2 from 61.1 in the previous month. Economists had only expected a decrease to 59.1.
Moderna jump up with vaccine application
Among the individual values, S&P Global is 3.0 percent stronger. The company buys IHS Markit Ltd, making it one of the largest financial data providers in the United States. The pure stock deal is valued by IHS Markit at around 44 billion US dollars, as S&P Global announced. The Wall Street Journal had previously reported from circles about the upcoming merger. It’s the world’s largest merger of the year. IHS Markit increase by 8.9 percent.
Moderna make a leap 16 percent forward. The vaccine manufacturer wants to submit applications for approval of a vaccine against Covid-19 in the US and Europe this Monday. After completing the study, the vaccine had a success rate of 94.1 percent, said the US company, which had previously reported such effectiveness.
United Airlines has started to organize charter flights to distribute vaccination doses of the two companies Biontech and Pfizer, according to circles. The distribution plan includes existing but also additional capacities for cool storage and transport of the cans, it said. At the same time, the British government has informed the state hospitals that they should be ready to start distributing the Pfizer Biontech vaccine as early as next Monday. Pfizer are 2.5 percent more expensive, Biontech are advancing by 6.6 percent.
Nikola collapse, however, by 24 percent. The car company General Motors (GM) will not participate in the manufacturer of battery-electric and fuel cell-powered vehicles. However, GM will deliver its fuel cell systems to Nikola for the construction of commercial vehicles. GM shares are down 2.1 percent.
Euro comes back from the daily high
On the foreign exchange market, the euro is still trading well above the 1.19 mark at 1.1949 dollars, but has come back from the daily high just below 1.20. The dollar index turned 0.1 percent into positive territory with the renewed increase in caution.
Oil prices are falling after the strong gains in the previous week. The Opec meeting, at which the future funding policy will be negotiated, is eagerly awaited. An extension of the funding restrictions, which will run until the end of the year, is expected, but the first deviations are expected. The US variety WTI lost 1.8 percent to $ 44.72, Brent is 1.5 percent to $ 47.45.
The gold price is reduced by 0.3 percent to $ 1,781 per troy ounce. The hopes that corona vaccines will be available soon are causing shifts to higher-risk investments.
US bonds are giving way. The yield on ten-year paper rises with falling prices by 0.5 basis points to 0.85 percent.
INDEX last +/-% absolute +/-% YTD
DJIA 29.522,65 -1,30 -387,72 3,45
S&P-500 3.605,58 -0,90 -32,77 11,60
Nasdaq-Comp. 12.128,87 -0,63 -76,98 35,18
Nasdaq-100 12.187,10 -0,58 -71,11 39,55
Maturity Yield Bp to VT Yield VT +/- Bp YTD
2 years 0.15 -0.4 0.15 -105.4
5 years 0.37 -0.2 0.37 -155.9
7 years 0.62 0.4 0.62 -162.6
10 years 0.85 0.5 0.84 -159.6
30 years 1.58 0.8 1.58 -148.4
Forex last +/-% Mon, 8:02 am Fri, 5:30 pm% YTD
EUR/USD 1,1948 -0,17% 1,1964 1,1956 +6,5%
EUR/JPY 124,70 +0,14% 124,37 124,36 +2,3%
EUR/CHF 1,0827 +0,03% 1,0806 1,0815 -0,3%
EUR/GBP 0,8953 -0,30% 0,8969 0,8970 +5,8%
USD/JPY 104,37 +0,32% 103,88 104,02 -4,1%
GBP/USD 1,3346 +0,16% 1,3339 1,3330 +0,7%
USD/CNH (Offshore) 6,5780 +0,08% 6,5742 6,5680 -5,6%
BTC / USD 19,323.50 + 6.41% 18,514.08 16,680.79 + 168.0%
ROHOEL zuletzt VT-Settl. +/- % +/- USD % YTD
WTI/Nymex 44,72 45,53 -1,8% -0,81 -20,2%
Brent/ICE 47,45 48,18 -1,5% -0,73 -22,7%
METALS last previous day +/-% +/- USD% YTD
Gold (Spot) 1.781,26 1.787,45 -0,3% -6,19 +17,4%
Silver (spot) 22.50 22.73 -1.0% -0.23 + 26.0%
Platinum (Spot) 969.73 968.00 + 0.2% +1.73 + 0.5%
Kupfer-Future 3,44 3,40 +1,1% +0,04 +21,6%
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DJG / DJN / raz / err
(END) Dow Jones Newswires
November 30, 2020 12:01 ET (17:01 GMT)