The Daily Times Newspaper

Wall Street Kicks Off Black Friday With Small Profits

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The stock exchanges in New York have started the shortened session on Black Friday with small profits. Investors seem to be taking it easy after the boom in recent days caused by vaccine heap.

 

Nevertheless, the mood has also been somewhat depressed by fears of the economic consequences of lockdowns in the short term. Trading is thin as many investors also take a day off the day after Thanksgiving when the stock markets remained closed

Shortly after the opening bell, the Dow Jones index was 0.2 percent higher at 29,938 points. The broad S&P 500 won 0.3 percent to 3639 points and tech gauge Nasdaq plus 0.8 percent to 12,188 points.

The second wave of the corona is hitting hard despite the prospect of a vaccine. In the United States, the number of hospital admissions for the coronavirus reached a new record on Wednesday. Germany, among others, decided this week to extend lockdown measures. Economic confidence in the European Union was therefore hit this month.

Large retailers such as Walmart (plus 0.3 percent) and Amazon (plus 0.8 percent) are in the spotlight because of Black Friday. This day is known in the US as the start of the critical holiday season for retailers, who are doing everything they can to retain customers during this time. Massive discounts are often offered to convince buyers.

Furthermore, there is above-average attention for Tesla after the news that the US road safety regulator is investigating 115,000 cars of the brand. There would be technical problems with the front suspension on specific models. However, the share won 2.3 percent.

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