Mixed weekend on Wall Street – winning action to heaven

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It was a mixed week-end for US investors. The S&P 500 and Dow Jones closed in plus, while the Nasdaq fell on Friday.

Macro

The development comes after figures showed that retail trade in the US rose by 1.9 per cent in September, compared with the expected 0.7 per cent. According to Bloomberg, the rise is the largest in three months.

Excluding the sale of vehicles, the increase was 1.5 per cent. An increase of 0.5 per cent was expected here.

US industrial production fell 0.6 percent on a monthly basis in September. According to TDN Direkt, an increase of 0.5 percent was expected. The industry’s capacity utilization was 71.5 per cent.

The US budget deficit is now at a record high 3100 billion dollars, writes the Wall Street Journal. Last year, the deficit was in excess of $ 900 billion.

So far this year, US authorities have spent $ 2.2 trillion on corona aid.

The previous deficit record was set in 2009 as a result of the financial and housing crisis. At the time, the deficit was $ 1.4 billion.

To heaven after refinancing

Today’s clear winner was the bankrupt car rental company Hertz, which climbed as much as 142.72 percent. At most, the stock was up close to 180 percent.

The rise comes after the company announced new financing of 1.7 billion dollars.

The refinancing must be confirmed through US courts, according to the plan towards the end of October, according to Bloomberg.

Bloomberg further reports that the giant loan matures in the autumn of 2021, and that the company is obliged to apply for debt renegotiation, so-called Chapter 11 reorganization, by August 2021.

STRAIGHT UP: Hertz rose sharply on Friday. Photo: Luke Sharrett

Up, up and up

The broad S&P 500 rose marginally 0.02 percent to 3,483.91.

It was a mixed trading day for the bank shares. The big bank Bank of America climbed 0.37 percent, while Goldman Sachs fell 1.15 percent. Citigroup, for its part, closed down 0.96 percent, while Morgan Stanley rose 1.01 percent.

The Dow Jones closed up 0.40 percent to 28,606.77.

Technology giant Apple shut down 1.4 percent, while rival Microsoft remained unchanged.

Technology-heavy Nasdaq, for its part, fell 0.36 percent to 11,671.55.

Facebook fell 0.3 percent, while Amazon fell 1.98 percent.

Streaming giant Netflix shut down 2.06 percent, while Google owner Alphabet ended up 0.79 percent.

Electric car giant Tesla fell 2.05 percent.

Nikola plunged a full 16.12 percent. The decline came after CEO Mark Russell said in a statement that he sees a future for his company, even if no agreement is reached with General Motors (GM) on a proposed strategic partnership.

The potential agreement means that GM will have an 11 percent stake in Nikola and can nominate a director to the board of the company, in exchange for offering a platform for the truck Nikola Badger. The agreement was announced in September and has not yet been clarified.

The final deadline for completing an agreement is 3 December.

General Motors, for its part, ended up 2.64 percent on Friday.

DELETE: Nikola plunged on Wall Street on Friday. Foto: Bloomberg

Fear, gold, oil and interest

VIX, popularly referred to as the fear index, fell 0.74 percent to 26.77 points.

The gold price fell at closing time to 1,903.80 dollars, down 0.27 percent.

At the closing time, North Sea oil was down 0.49 percent to 42.78 dollars per. barrels, and US light oil fell 0.46 percent to $ 40.72 per barrel.

The ten-year-old rose 0.60 basis points to 0.743 percent.

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