Stock America finished trading in the red. At the same time, the decline in the US stock market was observed for the third week in a row, which is the longest period of decline since last year, CNBC notes.
The US stock market also closed in the red on Thursday, under pressure from major tech stocks. The Dow Jones value decreased by 0.47%, the S&P 500 – by 0.84%. The Nasdaq fell 1.27%.
Investors continue to follow negotiations on a new package of measures to support the US economy. House of Representatives Speaker Nancy Pelosi said Friday that airlines and restaurants may need a separate incentive package. Since the Democratic House of Representatives proposed a $ 3.4 trillion package in May that was not backed by the Senate, she said, new needs have arisen. “At that time there were expectations and hopes that we will defeat the virus. We did not do that,” Pelosi said to MarketWatch.
In the meantime, the US Department of Commerce announced on Friday that from September 20, “any provision of services for the distribution and maintenance of WeChat and TikTok mobile applications,” as well as updating them through online app stores in the United States, is prohibited.
The US 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. 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.
Consumer confidence in the US in September rose to 78.9 points from 74.1 points a month earlier, according to preliminary data from the University of Michigan, which calculates this indicator. The indicator has risen to a maximum since March this year. Analysts, on average, expected the indicator to rise to only 75 points, Trading Economics reported.
The Dow Jones Industrial Average fell by 244.56 points (0.88%) – to 27657.42 points.
Standard & Poor's 500 lost 37.54 points (1.12%) and amounted to 3319.47 points.
The Nasdaq Composite dropped 116.99 points (1.07%) to 10793.28 points.
The shares of the Chinese game developer NetEase Inc. on Friday they fell 0.8%, despite strong growth in early trading. The company announced that it will split its American depositary shares (ADS) at a 5: 1 ratio.
Oracle Corp (NYSE: ORCL) quotes. declined 0.7%, Walmart (NYSE: WMT) Inc. – by 0.2%. The Wall Street Journal reported that Oracle and Walmart could gain significant stakes in the popular short video sharing service TikTok.
Tesla Inc. added 4.4% after an analyst at Piper Sandler raised its target price for the electric car maker to $ 515 from $ 480 apiece, predicting demand for the company's products will rise. Tesla shares closed trading on Thursday at $ 423.43 per share, on Friday – $ 442.5.
Quotes from the American software developer Unity Software Inc. jumped 31.4% in opening trading.
Capitalization of United States Steel Corp. (US Steel) increased by 4.9%. The American Steel Corporation released an encouraging third-quarter forecast on Friday, noting, in particular, the expected “significant improvement” in the flat products division.