Wall street (Dow Jones -0.06%; S&P 500 -0.15%; Nasdaq -0.47%) failed to save on Thursday despite cutting the declines in the last few bars. The Dow Jones and the S&P 500 have both turned green in the last half hour of the session. This has occurred after an opening in which it has registered falls of more than 1% due to fear of the second wave of the virus. US indices they already closed in red last day after a reality bath with the stimuli. They will not arrive before the elections, as assured Steven Mnuchin, Secretary of the Treasury. Added to this is the bad news about employment.
Next week, Republicans could try to pass a small package of $ 0.5 trillion, far from his proposal of 1.8 trillion and the 2.2 trillion proposed by the Democrats, "although it is expected to be blocked again by the Democrats," explain the analysts of Renta 4.
As for the job market, jobless claims in the US have reached their highest point since August. Specifically, 898,000 were reached during the week ending October 10. This is an increase of 53,000 requests compared to the previous week.
Regarding the second wave of the virus, the restrictions imposed by several European countries make the market fear that economic activity will stop again in the short term, which is causing strong falls in the stock markets of the Old Continent.
At the business level, Wells fargo It falls sharply after firing more than a hundred of its workers for abusing the aid fund to alleviate the effects of the Covid-19 pandemic. According to the bank, some of its employees made "false representations when requesting coronavirus relief funds for themselves."
Further, Morgan stanley it falls slightly after increasing its third-quarter earnings by 26%. Despite the Covid-19 pandemic increasing volatility in financial markets, its results have been boosted by another extraordinary quarter in its commercial business.
The ones that aren't being light are the drops at Vertex Pharma. Their titles plummet more than 20% after leaving a trial against protein deficiency
The biotech has confirmed that it will stop developing a drug to treat an inherited protein deficiency that can cause lung and liver diseases.
On the economic scene, the Philadelphia Fed index October has rebounded strongly and exceeded forecasts, but the weekly unemployment data have been badas initial jobless claims have risen to almost 900,000, higher than expected.
At the geopolitical level, the possible inclusion by the United States of Ant Group, a subsidiary of the Chinese group Alibaba, on its trade blacklist, which may increase trade tension between Washington and Beijing.
In other markets, the West Texas oil, a reference for the American market, fell 2.3% to $ 40.09, while the euro it depreciates 0.3% and changes to $ 1.1711. Finally, the profitability of the 10-year American bond it drops to 0.70%.
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