Chip manufacturer Intel disappointed: Wall Street is running out of breath in the final spurt

After a good start, the prices on the US stock exchanges fell somewhat at the close of trading. Experts explain the reluctance of investors to face difficult negotiations in Washington. Toy maker Mattel is one of the day's winners.

Wall Street closed inconsistently for the weekend after changeable business. The S&P 500 and the Nasdaq indexes posted slight gains while the Dow Jones index fell slightly. The investors acted cautiously before the weekend, it said. Democrats and Republicans were still in tough negotiations for a new stimulus package. After there had been some more optimistic voices recently, Larry Kudlow was cautious. The president's senior economic advisor said it would be very difficult even if an agreement was reached in the next few days. Market experts also doubted that there would actually be an agreement before the US presidential election.

Of the Dow Jones Index lost 0.1 percent to 28,336 points that S&P 500 gained 0.3 percent. For the Nasdaq composite it went up 0.4 percent.

In addition, the rapidly increasing number of corona cases worldwide continued to give cause for concern. In the United States, too, the number has recently climbed to the highest level since July, with over 70,000 new infections in one day. Since the beginning of the pandemic, there have been around 8.4 million confirmed corona cases in the USA.

On the other hand, the last US television debate between Democrat Joe Biden and US President Donald Trump should have little influence, it said. The two candidates have expressed their different points of view again. In addition, around 47 million Americans have already cast their votes by postal vote, which limits the influence of the debate.

Global lockdowns are curbing oil prices

Of the Euro increased with unexpectedly positive industrial data from Germany. Thanks to the renewed strong growth in industry, the German economy remained on a growth path in October. However, the development was split in two: while the industry was booming, the service sector was shrinking. The collective index collected by IHS Markit for production in the private sector – industry and service providers together – decreased very slightly. The economic barometer, however, indicated further growth. The euro trended near its daily high at $ 1.1864 in late trade.

The Oil prices gave in. Sentiment continued to be weighed down by the rapidly increasing number of new infections worldwide and the more and more frequent lockdowns that followed. This is likely to have a negative impact on the expected economic recovery. In addition, there is the continuing oversupply on the oil market. For the fifth week in a row, service provider Baker Hughes has reported an increasing number of active wells in the USA. The price for a barrel of the US grade WTI fell 2.2 percent to $ 39.74, Brent gave 1.8 percent from $ 41.68.

Of the Gold price tended to change, at the end it gave way a little. The price of the troy ounce lost 0.1 percent to $ 1,903. With the increased risk aversion, US bonds again met with buying interest. The ten-year yield fell 2.6 basis points to 0.84 percent.

Toy manufacturer Mattel clearly in the plus

With the individual values ​​it went for the IntelShare down 10.6 percent. The chip company had massively disappointed with sales and profit in the third quarter. Profits dropped 28 percent to $ 4.3 billion. Sales fell nearly 5 percent to $ 18.3 billion. Adjusted earnings per share were $ 1.02. The credit card company American Express earned less in the third quarter than in the same period last year and fell short of market expectations. Income after deducting interest expenses was higher than expected despite a slump. The share went down 3.7 percent.

On the other hand, they improved Gilead Sciences by 0.2 percent. The US health authority FDA has approved the drug Veklury (Remdesivir) for the treatment of Covid-19 patients. The antiviral drug had already received emergency approval in early May. For the Curevac-Share was up 2 percent. The biopharma company has gained positive data in its preclinical studies with the vaccine candidate CVnCoV against Covid-19. The vaccine candidate is currently being investigated in phase 1 and phase 2a clinical trials.

The Mattel-Share rose 9.6 percent. The toy manufacturer's third-quarter figures clearly exceeded market expectations.