It was a heavy day on Wall Street, and all the leading indices ended in red on Thursday.
“Market volatility will continue in the weeks ahead as investors face a number of uncertainties – the timing of vaccine availability, the size and timing of further fiscal stimulus, and the election result,” said Mark Haefele, chief investment officer for global asset management at UBS.
– The uneven recovery in the US economy is also raising concerns for investors as the earnings season started this week.
The development comes after figures showed that the number of first-time applicants for unemployment benefits in the USA (jobless claims) was 898,000 last week (as of 10 October). Consensus pointed to 825,000 first-time applicants.
The number of people who continue to receive unemployment benefits (continuing claims), was per. October 3 at 10,018,000, down 1,165,000 from the week before. In advance, 10.7 million continuing claims were expected.
The Philly Fed index, which monthly indicates the level of activity both in business in general and in the factories in the Philadelphia region, is stated at 32.3 points, compared with 15.0 points in September. According to TDN Direkt and Direkt Makro, the index was expected to fall to 14.8 points.
The Empire Manufacturing Index, which measures purchasing managers’ expectations in New York, came in at 10.5 in October, against an expected index of 15.0. Companies are still optimistic about the outlook for the next six months, although optimism was somewhat lower than last month
Strong quarterly figures sent bank shares up
Morgan Stanley delivered third-quarter figures on Thursday, which showed a result of 1.66 dollars per. share in the third quarter of 2020, which is up from $ 1.27 per share in the same period last year.
The FactSet consensus pointed to $ 1.28 per share.
Revenue came in at $ 11.7 billion, rising from $ 10.0 billion in the same period last year.
Consensus here pointed to 10.65 billion dollars.
– We delivered strong quarterly earnings, and our balanced business model continued to deliver steady, high returns, says CEO James Gorman in a comment.
Morgan Stanley shares closed up 1.34 percent on Thursday.
Down, down and down
The broad S&P 500 fell 0.15 percent to 3,483.34.
It was a mixed trading day for the bank shares. The big bank Bank of America climbed 2.24 percent, while Goldman Sachs fell 1.25 percent. Citigroup, for its part, closed up 1.35 percent.
Today’s big loser was Vertex Pharmaceuticals, which plunged as much as 20.7 percent.
The Dow Jones closed down a marginal 0.06 percent to 28,495.84.
Technology giant Apple shut down 0.4 percent, while rival Microsoft shut down 0.54 percent.
Technology-heavy Nasdaq, on the other hand, ended the percentage down to 11,713.87.
Facebook and Amazon fell 1.88 and 0.74 percent, respectively.
Streaming giant Netflix closed up a marginal 0.09 percent, while Google owner Alphabet ended up 0.51 percent.
Electric car giant Tesla, for its part, fell 2.69 percent.
Fear, gold, oil and interest
VIX, popularly referred to as the fear index, rose 2.08 percent to 26.95 points.
The gold price went up at closing time for 1,912.50 dollars, up 0.27 percent.
At the closing time, North Sea oil was down 0.64 percent to 43.14 dollars per. barrels, and US light oil fell 0.31 percent to $ 40.96 per barrel.
The ten-year-old fell 0.25 basis points to 0.733 percent.