Dow Jones New York Stock Exchange closed overnight (11 Nov) as investors raised concerns about the number of COVID-19 infections. That rose rapidly in the US As a result, many states have adopted curfew measures to control the spread. Because investors buy stocks of technology and communication.
The Dow Jones Industrial Average closed at 29,397.63, down 23.29 or -0.08%, while the S & P500 closed at 3,572.66, up 27.13, or + 0.77% .The Nasdaq closed at 11,786.43, an increase of 232.57 or + 2.01%.
The Dow weakened after it was reported. Number of people infected with COVID-19 In the US it spiked rapidly. Until now, the total number of infections has reached 10,568,714 and has died 245,943, which has caused many states in the United States. Including California Announcing curfew measures to limit the time spent outside the home of the people. The Nevada governor urged residents to stay at home for two weeks and in New York City announced a curfew to control the opening times of pubs, bars and restaurants.
Concerns about the number of people infected with COVID-19 And taking strict measures to control the epidemic in the US It overshadowed the progress of Pfizer Inc.’s vaccine development and caused the Dow to close in negative territory for the first day in three working days after earlier. News of vaccine progress has bolstered a strong jump in the Dow.
Pfizer shares were down 0.47%, BioNTech shares plunged 2.94%, Eli Lilly shares were down 1.23% as investors took a profit. After the stock prices of all 3 companies have rallied strongly earlier This is due to the progress in the development of the COVID-19 vaccine.
Airlines and cruise ship stocks plunged on concerns about the number of COVID-19 infections. Increasing in the US American Airlines shares fell 2.75 percent, United Airlines shares plummeted 3.85 percent, Delta Air Lines shares were down 5.45 percent, Carnival Corp’s shares fell 3.05 percent, Royal Caribbean Cruises fell 3.92 percent.
Alibaba Group Holdings, listed on the New York Stock Exchange, fell 0.3 percent after it was reported. The Chinese government is preparing to issue strict regulatory measures for the Internet industry. This is to prevent large technology companies from monopolizing the market and making small companies unable to compete The measure is expected to affect Chinese giants like Alibaba and Tencent.
Banking stocks fell in line with US Treasury yields last night. JP Morgan shares fell 1.48 percent. Bank of America shares were down 1.14 percent, while energy stocks fell on profit-taking. ExxonMobil shares were down 1.03 percent; Chevron shares were down 0.73 percent; Halliburton shares were down 1.39 percent.
However, technology and communications stocks rebounded. And as a supporting factor, the Nasdaq closed in positive territory, with Microsoft shares up 2.63 percent. Twitter shares jumped 2.88 percent. Facebook shares gained 1.49 percent. Netflix shares jumped 2.19 percent. Up 3.37%, Zoom Video Communications Shares Up 9.93%.
Analysts at Colorado-based Mercer Adviser said investors remained positive on the market outlook. And expect three key factors, including the transition to the US presidency will go smoothly. Vaccines that can control the spread of COVID-19 And a new round of stimulus, it is likely that Republicans and Democrats have a consistent view on the matter. Investors watched key US economic data this week, including weekly jobless claims, the October inflation rate, the October Producer Price Index (PPI) and the consumer confidence index. Early Nov. from the University of Michigan.