Wall street has returned to trading at a loss (Dow Jones: -0.88%; S&P 500: -1.12%; Nasdaq: -1.3%). The main US stock exchanges on Thursday broke their winning streak of four consecutive sessions weighed down, once again, by technology. This Friday they have repeated the red numbers and they have erased the gains they had accumulated since Monday, chaining four consecutive weeks in negative.
"The technology companies have done a lot of damage in this correction that was initiated on September 3," say experts from Vital Knowledge. "The excesses of the summer are still there and we still see a journey (to correction)", they add.
He Nasdaq It entered bearish territory this Thursday, that is, to fall 10% from its highs. The FAANGs have actually lost 10% so far this month.
And at the business level, you will also have to be very aware of the latest news related to TikTok, and is that Since this Sunday, the US has banned the downloads of this app and also those of WeChat. The president, Donald Trump, has assured that he has made this decision to "safeguard national security." Oracle is the harmed by this measure, and registers slight falls while it continues trying to close a deal with ByteDance, the father of TikTok.
In political matters, Republicans and Democrats continue to negotiate to carry out a new round of stimulus with which to irrigate the largest economy in the world. Although there is still no agreement. Meanwhile, on the health front the coronavirus vaccine still not materialized and contagions have exceeded 30 million worldwide. Health department officials have assured that the vaccine, if it arrives, will be in limited quantities this year and will not be widely distributed until six to nine months later.
"A safe and transparent vaccination process is critical to promoting widespread vaccination once effective vaccines are identified and tested," says UBS, which expects "wide availability of vaccines by the second quarter of 2021."
Also this Friday, the confidence indicator from the University of Michigan was released, which rose in September to 78.9, from the 74.1 that marked the previous month, and being above the consensus expectations, of 75. "The improvement in labor market expectations – including the reduction in fears of job losses – commercial conditions and the country as a whole explain the general improvement", point out the experts from Pantheon Macroeconomic.
In the raw materials market, West Texas barrel, a benchmark in the United States, fell 0.15% at the close of the US session, falling below $ 41. For its part, in the commodities market, the euro has traded flat and has changed to $ 1.1847. In addition, in the debt market, the yield of the US ten-year bond has been 0.69%.
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