Wall street (Dow Jones -0.58%; S&P 500 -1.21%; Nasdaq -2.45%) has returned to the falls dragged by the collection of benefits of the FAANG. The main US stock exchanges return to the red after their rebound this Thursday, which was possible thanks to a GDP from the US better than expected. The indices have closed a month to forget. The Dow Jones has fallen 4.6% while the S&P 500 and the Nasdaq have done so more than 2%.
The world's largest economy rebounded 33.1% in the third quarter, an unprecedented growth rate, which is framed after having suffered its biggest drop in history in the previous quarter.
Weekly jobless claims have also fallen somewhat more than economists anticipated, thus giving stocks enough reason to explain their rebound on Thursday.
In macro terms, consumption suffers after "a hot summer" (in the words of Oxford Economics) because of the outbreaks, which force new restrictions (and even confinements) hitting the economy where it hurts the most.
The red of this Friday is explained by the extraordinary weight of technology on Wall Street, which is not at all immune to profit-taking in this sector, especially after good results like those harvested in the last quarter.
The big Nasdaq (Alphabet, Facebook, Amazon and Apple) went through the confessional yesterday and despite having reported significant profits and income, the accounts have not finished convincing and record sharp falls at this time on Friday. In fact, Google's are the only ones that are making progress, 4%.
They are also seeing very strong falls on Twitter. Its shares plummet more than 20% after not attracting as many new users as expected. The social network of the blue bird has declared 187 million users in the last quarter, while the market expected 195 million.
"Pre-election volatility is common, and this has been compounded by questions about the pandemic, the economy, and earnings growth," say analysts from Wells Fargo. "This indigestion explains the falls," they add in their latest report.
On the other side of the Atlantic, the Ibex is shyly recovering as the culmination of an otherwise disastrous week. Finally, in Asia the stock markets have closed in red, weighed down by the falls of Apple's suppliers, that have been affected by the collection of profits in those of Cupertino.
. (tagsToTranslate) Wall (t) Street (t) closes (t) to (t) forget: (t) Jones (t) leaves (t) 4 (t) 6% (t) October (t) Category: All ( t) Category: Market Report (t) Category: Company News (t) Category: Economic News (t) Category: Political News (t) Category: Pulses (t) Category: Market Pulse (t) Category: Currency Pulses (t) Category: Pulses Raw Materials (t) mostread_empresas (t) mostread_economia (t) mostread_politica