The New York Stock Exchange concluded 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.
According to final results at the close, the Dow Jones star index lost 0.75% to 29,263.48 points. The S&P 500 extended index fell 0.68% to 3,557.54 points, and the technology-colored Nasdaq dropped 0.42% to 11,854.97 points.
“The evolution of US equities was mixed during this last volatile week-long session, as investors assessed the signs of progress on the vaccine and treatment fronts against Covid-19 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 months. In Canada, the city of Toronto will be reconfigured as of Monday.
Americans have also been urged to refrain from traveling 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 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 n ‘avoids 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.