Wednesday , December 8 2021

Wall Street opens with losses


New York Stock Exchange on Wall Street

Tuesday saw a record high for Dow Jones Industrial with high hopes for a crown vaccine

(Photo: dpa)

New York Following the recent rise in Wall Street prices, some investors are taking advantage of the opportunity to make a profit. The main U.S. index lost 0.6% on Tuesday to 29,783 points. The big tech Nasdaq lost 0.2 percent to 11,899 points and the broad S&P 500 lost 0.5 percent to 3,609 points.

Investors are fearful of the economic consequences of the crown pandemic and hope for a quick approval of the vaccine that will ease the cuts, said Rick Meckler, partner of asset manager Cherry Lane.

Overall, however, investor optimism is uninterrupted, wrote experts from Bank of America. According to a monthly investor survey, growth and profit expectations are at an all-time high of 20 years. “The market assumes the end of the tunnel is already in sight,” said Herald van der Linde, capital strategist at HSBC Bank.

On Monday, the U.S. biotechnology company Moderna reported that its crown vaccine had shown nearly 95 percent effectiveness in testing. Last week, Mainz competitor BioNTech and its US partner Pfizer released similar results for their active ingredient. On Tuesday, Pfizer said it was requesting that its crown be approved for emergency vaccination in the United States. Pfizer papers were 1.8% more expensive.

Look at individual values

Tesla: Shares of Tesla rose 8.2 percent. The pioneer of electric cars will travel to the S&P 500 on December 21st. In September, the S&P Dow Jones index traded against it.

Modern: The US company, with its success in vaccine development, has probably replaced the German pharmaceutical company Biontech as a carrier of hope for an early pandemic. According to Monday’s report, Modern shares rose 15.4 percent to the record. They closed 9.6 percent tighter.

Walmart: Walmart’s largest retailer business in the U.S. is doing surprisingly well thanks to online sales in the crown pandemic. Operating profit for the previous year rose 22.5% in the last quarter to $ 5.8 billion ($ 4.9 billion), as Walmart announced on Tuesday.

Walgreens: Amazon’s rivals are putting a lot of pressure on them by launching an online pharmacy. Shares in the Walgreens pharmaceutical chain fell nine percent. The work of competitors CVS Health and Rite Aid lost eight and 14 percent, respectively. Competitors Cardinal Health and McKesson also left the path. Amazon shares rose 1.3 percent. The world’s largest online retailer is heating up competition with the new “Amazon Pharmacy” prescription drug ordering service. This brings fresh air to the market, analysts at the Evercore ISI brokerage firm wrote. “So far, consumers have not warmed up with prescription drug delivery because the service is lower.”

Home storage: Shares of the U.S. DIY chain lost a good two-and-a-half percent on the DIY chain despite better-than-expected results. Recently, however, they were not below the record they had at the end of August.

T-Mobile USA: Shares of the telecommunications company rose 0.3 percent. According to a note to the Securities and Exchange Commission the previous day, investment firm Berkshire Hathaway of star investor Warren Buffett supplied the papers of a wireless company valued at about $ 276 million in the last quarter.

More: Professional investors in China rely on these stocks

Source link