Sunday , December 5 2021

Wall Street opens for a smaller regeneration after the rise in vaccination; Dow Down 340 Pts with Investing.com



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© Reuters.

By Geoffrey Smith

Investing.com – The US stock market opened cheaper on Tuesday, but they received all the good news they received on Monday in response to the latest news that they received good news about the Covid-19 vaccine.

By 09:40 ET (1440 GMT), it was down 340 points, or 1.1%, from 29,610 points, which closed on Monday for the first time since the pandemic erupted in February.

Shares fell 0.7%, while Tesla (NASDAQ 🙂 shares rose 11.3% after the S&P Dow Jones Indices said it would enter the automotive benchmark index on December 21st.

Despite winning Tesla, it fell 0.2%.

The sentiment was spread earlier, with figures showing that retail sales rose more slowly than expected in October, by just 0.3%. The September data was also revised downwards, reviving fears that the failure of the pandemic to extend the government’s support to a large number of unemployed Americans would lead to demand.

Another headwind came from Washington, where Senate Speaker Mitch McConnell stated that he would not be staying with the Democratic House before the election in the near future, at least on the issue of fiscal support for the economy. McConnell accused Democrats of hijacking the virus removal bill.

There were huge losses in drugstore stocks when Amazon (NASDAQ 🙂 announced plans to fill online prescriptions two years after buying a $ 750 million PillPack. Shares of CVS (NYSE 🙂 fell 7.9% and the Walgreens Boots Alliance (NASDAQ 🙂 fell 8.7% for online giants for fear of eroding what had previously been unsuitable for the market. Amazon’s stock gained 1.2% on the other hand, another significant revenue and rich source of customer data.

Elsewhere, Walmart (NYSE 🙂 stock and Home storage (NYSE 🙂 Both stocks fell despite both companies reporting quarterly gains that were better than expected. Walmart’s earnings per share rose 15% when revenue rose 5.2%, due to a 79% increase in sales through the online channel. Sales fell 0.5% due to slowing sales growth.

Home Depot, the huge winner of a pandemic, fell 2.5% amid fears that the end of the pandemic – which has reached at least two effective vaccines next year thanks to signals to be distributed next year – has reached people. to invest in home improvement.

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