US stock market ended the week with substantial profits


The stock exchanges in New York went out of business on Friday with substantial profits. Investors who wanted to take advantage of recent price declines by buying in heavily pushed up the gauges. Large technology funds were particularly popular. This blinded the prevailing concerns about rising levels of infection in Europe and the United States and the absence of a new American support package.

The Dow Jones index was 1.3 percent higher at 27,173, 96 points. The broad S&P 500 won 1.6 percent to 3298.46 points. The technology gauge NASDAQ drew up a plus of as much as 2.3 percent to 10.913, 56 points.

Tech funds like Facebook, Microsoft and Apple won 3.8 percent. The latter company was in the spotlight, among other things, by a renewed attempt by the European Commission to penalize Ireland for tax arrangements that are very advantageous to the iPhone maker.

Meanwhile, uncertainty for investors is increasing. The further spread of the coronavirus has already led to the reintroduction of several lockdown measures in European countries. In the United States, too, the number of people tested positive is increasing in parts of the country, with the fear of a new wave of infection.

Boeing shares increased 4.2 percent after news about his plagued aircraft MAX 737. European regulators expect to be ready in November with an assessment of the aircraft type, which has been on the ground for more than a year because of two plane crashes worldwide. Press office Bloomberg also reported that the US supervisor has scheduled major test flights with the MAX 737 for next week.

The euro was worth USD 1.1622, compared with USD 1.1658 at the end of the European stock exchanges. A barrel of American oil dropped 0.5 percent in value to $ 40.13. Brent dropped 0.3% to $ 41.80.

About the author

Lesley Woutersen

Lesley Woutersen, one of the co-founders of the EconomicInform gives away all of his free time to the project. He is interested in stock exchange and digital assets. Lesley can be reached by [email protected]

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