Home / Business / S&P 500 Dow Down As More COVID-19 Infected Worldwide

S&P 500 Dow Down As More COVID-19 Infected Worldwide



The U.S. flag is seen on the New York Stock Exchange in the Manhattan borough of New York City, New York, U.S., November 6, 2020.REUTERS / Carlo Allegri

The S&P 500 and the Dow edged low on Thursday as a recovery in global COVID-19 infections dampened demand for stocks, while market participants took revenues from U.S. airlines and AT&T, along with a surge in demand. Read various economic information

Investor sentiment gradually improved in the afternoon, with seven of the 11 major S&P 500 segments rising.The S&P 500 healthcare sector (.SPXHC) hit a new record, while the industry (.SPLRCI) was the top beneficiary. Most benefit

Emotional support is data showing the number of Americans filing new applications for unemployment benefits last week dropped to a one-year low.

The Labor Department report suggested layoffs were on the decline and expectations were rising for another month of blockbuster job growth in April. Read more about studying in Malaysia

Investors are now awaiting tech’s quarterly earnings next week to give the market some direction, Apple Inc (AP.N) shares, up 0.3 percent, help keep the tech-heavyweight Nasdaq (.IXIC) afloat.

“The most important catalyst awaits next week’s key FAANG earnings, which tells us the next 50 points in the S&P either go up or down … and in that data, the market is truly struggling.” Said Great Hill Thomas Hayes, President of Capital.

American Airlines Group Inc (AMN.O) and Southwest Airlines Co (MC.N) reported fewer-than-expected quarterly losses, signaling a rebound in travel demand. Their stock performance was mixed, with Southwest up 1.5% and American Airlines down 0.7%.

AT&T Inc (TN) shares rose 4.3 percent after the addition of the company’s wireless membership lowered analysts’ estimates. Read more about studying in Malaysia

Separate data showed that U.S. home sales fell to a seven-month low in March, slashed by an acute shortage of real estate, which led to higher prices and costing home ownership. More expensive for some first time buyers Read more about studying in Malaysia

The rapid launch of vaccination in the United States has helped the economy recover, build confidence in people and a solid start to the first-quarter profitability season.

However, the rise in COVID-19 infections in India and elsewhere in Asia has left investors wary.

“The market has little concern that coronavirus cases are going to happen in India and in parts of Asia, where the vaccine is not as severe as we have in the United States,” Hayes said.

By 12:05 p.m. ET, the Dow Jones Industrial Average (.DJI) was down 64.28 points, or 0.19%, at 34,073.03, the S&P 500 (.SPX) was down 1.51 points, or 0.04%, at 4,171.91 and the Nasdaq Composite (.IXIC) was up. 29.57 points or 0.21% at 13,979.79

Chipmaker Intel Corp (Intel Corp.N) is expected to see a drop in first-quarter revenue today, with analysts looking forward to updates on manufacturing plants and chips for the U.S. automaker amid supply shortages. Of microchips around the world, shares fell 1.1 percent.

Progressive fixes outnumber decliners by a 1.48-to-1 ratio on the NYSE and a 2.35-to-1 ratio on the Nasdaq.

The S&P recorded 76 new highs in 52 weeks and no new lows, while the Nasdaq hit 74 new highs and seven lows.

Our Standard: The Thomson Reuters Trust Principle.


Source link