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The Stock Exchanges in New York Started Lower on Thursday

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The stock exchanges in New York started the trading session predominantly lower on Thursday.

 

Fears of the effects of the flare-up coronavirus overshadowed the growth rates of the US economy in the third quarter. The sharply falling oil prices also weighed on sentiment.

Shortly after opening, the Dow Jones index recorded a minus of 0.8 percent at 26,295 points. The broad S&P 500 fell 0.3 percent to 3,260 points, while the technology gauge Nasdaq gained 0.3 percent to 11,032 points. Minuses of up to 3.7 percent were still visible on Wednesday.

Investors on Wall Street are looking forward to later in the day as after-market tech giants Apple, Amazon, Google mother Alphabet, Twitter and Facebook will be reporting quarterly results. In the run-up to the figures, the prices of Apple, Alphabet, Amazon and Facebook went up to 2.5 percent. Twitter did exceptionally well with a plus of 5.8 percent.

According to a preliminary estimate, the United States economy posted a record growth of 33.1 percent on an annualized origin in the third quarter. With that, the world’s largest economy rebounded from the blows of the corona crisis in the second quarter, when a historic contraction of 31.4 percent was seen.

It was also announced that last week fewer Americans applied for unemployment benefits. Oil prices fell abruptly for the second day in a row amid concerns about the impact of the second corona wave on fuel demand. A barrel of US oil fell 6 percent to $ 35.13, while Brent oil fell 5.8 percent to $ 36.86 a barrel.

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