On Friday, the New York Stock Exchange ended in a slump, finishing with two consecutive weeks of losses, punctuated by record highs. As the coronavirus outbreak continues to flare across the United States, stocks have stabilized in recent days amid confusion about the implementation of a new fiscal support package in the country. Investors were concerned about the possibility of a “not easy” Brexit as well. In the United States, on the welfare front, the FDA Advisory Committee issued an opinion, one step closer to the vaccination program, in support of the immediate launch of the Pfizer/BioNTech vaccine.
At the close, at 30,046 points, the Dow Jones rose 0.16 percent, returning symbolically to the 30,000-point mark, while the S&P 500’s large index dropped 0.13 percent to 3,663 points and the Nasdaq Composite index, rich in technology and biotech stocks fell 0.23 percent to 12,377 points.
The indices decreased their losses after the U.S. senate voted to extend federal funding by a week, preventing Friday’s “shutdown” of federal services. Therefore the draft budget for the financial year 2021 (which is supposed to include the well-known Covid support plan) would need to be accepted by next Friday.
Against a basket of six benchmark currencies including euro, pound sterling, yen, Swiss franc, Canadian dollar and Swedish krona, the dollar index DXY rose 0.21 percent to 91.98 points. EUR/USD pair rose by 0.54% to 1.2144 on Friday.
On the stock side, after the company made ambitious forecasts up to fiscal 2024 for its streaming video services, including Disney+, Walt Disney soared 13.6 percent, finishing at a record high.
The DJIA dropped by 0.6 percent over the week as a whole, the S&P 500 returned 1 percent and the Nasdaq fell 0.7 percent, but the three indices remain close to their historical peaks, backed by the expectation of a vaccine, exiting from the Covid-19 crisis in 2021.