The Stock Markets in New York Started With Losses on Friday
The stock markets in New York started with losses on the last trading day of the week on Friday. Washington is still waiting for an agreement on a new bailout package to guide the US economy through the corona crisis.
Investors are also processing the news that an independent expert panel is advising FDA regulator to approve Pfizer’s and BioNTech’s corona vaccine promptly.
Shortly after the opening bell, the leading Dow Jones index recorded 0.4 percent lower at 29,877 points. The broad S&P 500 lost 0.5 percent to 3651 points, and tech gauge Nasdaq lost 0.8 percent to 12,331 points. Democrats and Republicans in Congress are still debating the shape and size of the stimulus package. The talks may last until Christmas.
Pfizer lost 1.8 percent in market value in the opening minutes, and BioNTech also fell 1.4 percent. According to the experts, the vaccine of the two is safe enough to be administered. The FDA is now expected to approve the vaccine soon. It is possible to start vaccinating after the weekend.
Walt Disney gained nearly 8 percent in market capitalization. The entertainment and media company announced that it would make new films of Star Wars and Indiana Jones. The company also wants to release many more series on streaming service Disney + that is based on its Marvel and Star Wars film series.
Credit card company Mastercard (minus 1.4 percent) was among the losers. The UK Supreme Court has cleared a so-called class-action lawsuit that could cost the company $ 18.5 billion. Mastercard is accused of overcharging tens of millions of Britons for years.