Economy

How major USA stock indexes fared Friday

How major USA stock indexes fared Friday”

United States stocks ended the week mixed on Friday as optimism over positive economic data was tempered by a soaring U.S. deficit and the growing realization a new stimulus package is unlikely anytime soon.

Pfizer said it could file for USA authorization of its COVID-19 vaccine it's developing with Germany's BioNTech as early as late November.

"Sometimes the market gets a reality check that even if we get a vaccine early next year that's an incredibly aggressive and optimistic timeline".

Latest data showed USA retail sales increased more than expected in September.

Latest data showed USA retail sales increased more than expected in September, though recovery from the recession is at a crossroads as government money runs out and new COVID-19 infections surge across the country.

On the stimulus front, U.S. Treasury Secretary Steven Mnuchin told House Speaker Nancy Pelosi that President Donald Trump would "weigh in" with Senate Majority Leader Mitch McConnell if an agreement is reached on a new pandemic relief package.

All 11 major sectors of the S&P 500 trade in the negative territory after the opening bell and with the Energy Index is leading the decliners with a loss of 2.5%.

The S&P 500 is up 253.03 points, or 7.8%.

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At 8:34 a.m. ET, Dow e-minis were down 341 points, or 1.2% and S&P 500 e-minis were down 44 points, or 1.26%, and Nasdaq 100 e-minis were down 195.5 points, or 1.63%, as high-flying stocks such as Apple Inc and Amazon.com Inc fell 2.2% and 1.9%.

Of those, 86 per cent have cleared the low bar set by expectations, according to Refinitiv.

Wall Street bounced back on Friday after three straight days of losses, following a positive update from Pfizer on development of its COVID-19 vaccine and on data that showed stronger-than-expected retail sales growth last month.

Railway operator Kansas City Southern and transportation and logistics company JB Hunt Transport Services Inc fell after the companies' quarterly results were hit dropping shipping demand.

Shares of fitness company Peloton Interactive Inc slipped after announcing a recall of faulty pedals on its popular exercise bikes.

Declining issues outnumbered advancing ones on the NYSE by a 1.51-to-1 ratio; on Nasdaq, a 1.95-to-1 ratio favored decliners.

The S&P index recorded 49 new 52-week highs and no new low, while the Nasdaq recorded 80 new highs and 12 new lows.



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