American stock indices do not demonstrate uniform dynamics during the trading. The day before, the US stock market declined under pressure from shares of large technology companies, as well as against the backdrop of conflicting signals regarding the timing of the availability of the coronavirus vaccine for the population. The Dow Jones value decreased by 0.47%, the S&P 500 – by 0.84%. The Nasdaq fell 1.27%.
“The tech sector has caused significant damage to the market as the sale continues in this group, which began on September 3,” – said the founder of Vital Knowledge Adam Crisafulli, quoted by CNBC. The expert believes that the sell-off of technology stocks will continue.
Investors also continue to monitor the fate of the new package of measures to support the US economy. As noted by CNBC, Republicans and Democrats have failed to agree on the amount of new incentives. US President Donald Trump said Wednesday that he is in favor of a larger package of measures. “Some Republicans disagree, but I think I can convince them to agree to it,” Trump said to the Associated Press.
The U.S. balance of payments current account deficit in the second quarter of 2020 rose to $ 170.5 billion from $ 111.5 billion in the previous quarter, the country's Commerce Department said in a report. Analysts on average forecast the deficit to rise to $ 157.9 billion in April-June from the previously announced level of the first quarter, according to Trading Economics.
Traders on Friday also await the release by the University of Michigan of the preliminary value of the index of consumer confidence in the US economy for September.
The US Federal Reserve announced yesterday that, as part of a second round of stress tests, the country's largest banks later this year will analyze their ability to withstand two scenarios of a recession caused by the COVID-19 coronavirus pandemic.
The Dow Jones Industrial Average by 16:39 Moscow time fell by 31.85 points (0.11%) – to 27870.13 points.
Standard & Poor's 500 added 2 points (0.06%) to 3359.01 points.
The Nasdaq Composite rose by 22.53 points (0.27%) – up to 10942.41 points.
The shares of the Chinese game developer NetEase Inc. prices rise by 1.9% on Friday. The company announced that it will split its American depositary shares (ADS) at a 5: 1 ratio.
Tesla Inc. added 5.2% after an analyst at Piper Sandler raised its target price for the electric car maker to $ 515 from $ 480 apiece, predicting an increase in demand for the company's products. Tesla shares closed trading on Thursday at $ 423.43 per share.
Oracle Corp (NYSE: ORCL) quotes. are down 0.3%, Walmart Inc. (SPB: NYSE: WMT) – up 0.2%. The Wall Street Journal reported that Oracle and Walmart could gain significant stakes in the popular short video sharing service TikTok.
Unity Software shares its debut trading on Friday. The American developer of software for computer games in the framework of the IPO placed 25 million shares at a price of $ 52.