Thursday , December 9 2021

Wall Street takes a step back after the fair party Financial



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The Dow Jones index fell 0.6%. The broad S&P 500 index fell 0.5%. Nasdaq technology exchange fell 0.2%.

Tesla It posted a jump of 8.2%. The electric car maker will join the S&P 500 in December. With a market capitalization of $ 419 billion, Tesla is the most expensive company ever added to its breadth. Joining the S&P 500 means Tesla’s shares will end up in the wallets of more fund and index followers.

Amazon (+ 0.2%) also stood out. The online store team will focus on selling and shipping prescription drugs in the US. With its pharmaceutical services, it is competing with pharmaceutical companies like Amazon CVS Health (-8.6%) per year Walgreens Boots Alliance (-9.6%). Dutch chip manufacturer NXP (-0.4%) announced a strategic partnership with Amazon Web Services. The Eindhoven-based company hopes the alliance will help develop “smart” applications in the automotive industry.

Pfizer It gained 1.8%. The pharmaceutical company announced that it would request rapid approval from the U.S. FDA against its vaccination.

That was also announced Berkshire HathawayU.S. superinvestor Warren Buffett’s investment vehicle made new investments last quarter in crown manufacturers Pfizer and Merck. He also focused on the Berkshire AbbVie and Bristol-Myers Squibb pharmaceutical companies. At the same time, the billionaire dropped his stakes in financial companies, including Wells Fargo and JPMorgan Chase. Shares in Berkshire were unchanged.

Walmart (-2%) did good business in the last quarter with Internet sales, as Americans began to distribute a lot of food at home due to the crown crisis. Sales at regular Walmart stores in the largest U.S. supermarket continued to grow as consumers continued to store.

Meanwhile, U.S. infection rates are rising again and economic activity, experts say, will be inhibited until at least mid-2021, despite recent good news about crown vaccines. This puts pressure on policymakers, says Gilles Moëc, chief economist at AXA Group’s asset manager. When the presidential election is over, he expects a new package of government stimuli. Washington has been talking about this for a long time, but those involved have yet to come up with a work plan.

The fight against the virus could be a complicated one if President Donald Trump does not quickly share data on crown policies with Democrat Joe Biden’s transition team. This reluctant attitude creates pessimism about the agreement on additional support from the federal government’s crown.

What should you do with your savings? Are stocks a good alternative in these times of uncertainty? Jim Tehupuring and Stefaan Casteleyn of 1Vermogensbeheer will give their insights at a free webinar on Thursday evening. Register for free.

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