Stock Exchange Concluded A Volatile Week Lower
The New York Stock Exchangeconcluded a volatile week lower on Friday which saw the Dow Jones rise to record highs on vaccine hopes and then retreat on fears of the virus expansion and health restrictions.
In Toronto, the S & P / TSX ended the day with a gain of 109 points, or 0.65%, to 17,019 points.
The S&P 500 Composite Index fell 24 points, or 0.68%, to 3,557 points.
The Dow Jones fell 219 points, or 0.75%, to 29,263 points.
The Nasdaq lost 49 points, or 0.42%, to 11,854 points.
“The performance of US equities has been mixed during this volatile week-long last session, as investors assessed the signs of progress on the vaccine and COVID-19 treatment front but also the implications of the recent surge in new cases of the virus in the United States and Europe, ”Schwab analysts said.
In the United States, the epidemic is in “exponential” phase, with some 200,000 new cases and 1,750 deaths in 24 hours Thursday, after more than 2,000 deaths the day before, a threshold that had not been crossed for month. In Canada, the city of Toronto will be reconfigured as of Monday.
Americans have also been urged not to travel for Thanksgiving, November 26, the largest family holiday in the United States, when attendance records are traditionally broken at airports and on the roads.
Despite this session of decline, the Dow Jones has almost erased this week the losses suffered since the outbreak of the epidemic and is now close to its level of February.
Only ten months after the sequencing of the new coronavirus, laboratories Pfizer (+ 1.45%) and BioNTech (+ 9.63%) were the first to file together on Friday an emergency authorization request for their vaccine to the United States Drugs Agency (FDA). Their competitor Moderna, which could also have a green light from the European Union for its vaccine in mid-December, saw its action climb by 5.22%.
The title of the Gilead laboratory gave up 0.86% after the World Health Organization (WHO) on Friday recommended not to administer its drug, remdesivir, to hospitalized COVID-19 patients because this antiviral does not prevent death or severe forms of the disease.
Cruise line Carnival lost 4.45% after announcing that its subsidiary Princess Cruises was canceling its cruises until April 2021, and until November 2021 for those of more than seven days leaving from the United States.
In the bond market, the rate on 10-year US Treasuries was stable at 0.8243% against 0.8293% the day before.
Stock Exchange Concluded A Volatile Week Lower - /10