The Stock Exchanges in New York Started the New Trading Week With Pluses on Monday
The stock exchanges in New York started the new trading week with pluses on Monday. Investors are processing another crop of business results.
Furthermore, the focus is on the extension of a package of corona support measures by US President Donald Trump. Trump signed a decree on Saturday to support the US economy because he felt negotiations between Republicans and Democrats on a stimulus package were taking too long.
After a few minutes of trading, the Dow Jones index was up 0.5 percent at 27,580 points. The broad-based S&P 500 rose 0.2 percent to 3357 points, and tech exchange Nasdaq posted a plus of 0.1 percent on 11,018 points.
At the companies, sports equipment salesman Foot Locker made a price jump of 6.5 percent. It came with a better-than-expected update on the second quarter of its broken fiscal year. In the period up to 1 August, comparable sales were 18 percent higher. The profit figure was not too bad, helped by tax regulations.
Other companies that opened the books included hotel operator Marriott International (plus 1.5 percent) and cruise line Royal Caribbean (plus 0.3 percent). Both companies suffered a substantial loss in the second quarter as a result of the corona crisis. This in itself is no surprise, since the tourism sector is hit hard by the crisis anyway
Tech company Twitter is also able to draw attention to itself. The company would like to compete with Microsoft for the American activities of the popular video app TikTok. Microsoft is already negotiating an acquisition with TikTok owner ByteDance. Twitter was up 3 percent, Microsoft was down 1 percent.