At the start of the week, Wall Street stock prices recover. However, the initially stronger price gains are not held in all cases until the closing bell. With the presidential election approaching, many investors are losing their courage.
After the blackest week on the stock market since the crash in March, investors seized the opportunity to re-enter the US stock market. The Dow Jones Index won 1.6 percent to 26,925 points. The S & P-500 rose by 1.2 percent 3310 points. The technology-heavy one Nasdaq composite lagged with an increase of 0.4 percent 10,957 points after.
The Dow and S&P were boosted by surprisingly positive sentiment in US industry. The corresponding barometers from China and Germany had previously brightened investor sentiment. Investors' attention is focused on the upcoming presidential elections, said Rick Meckler of asset manager Cherry Lane. They bet that the mere fact of getting a clear result is good for the stock markets.
The experts at Bank Unicredit doubted that a winner would be chosen quickly, so that there was a risk of price turbulence. "It could be a tough roller coaster ride." US President Donald Trump is behind his challenger Joe Biden in national polls. In some major states, however, they are head to head. The worst possible outcome would be a contested choice, warned portfolio manager David Bui of wealth manager Degroof Petercam. In this case, a sell-off on the stock exchanges must be expected.
At the company advanced Estee Lauder into the spotlight. The cosmetics group announced quarterly results above market expectations, wrote analyst Stephanie Wissink of the Jefferies investment bank. However, the outlook for the current quarter is disappointing. The stock rose anyway by almost two percent. The papers of Camping World drove a plus of more than three percent one. The RV dealer increased its full-year targets after a surprisingly strong quarterly result and announced a $ 100 million share buyback program.
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