Wall Street in dispersed order, the anti-Covid pill seduces but worries about inflation – archyworldys

The New York Stock Exchange opened higher on Friday, enthusiastic after the news of the possible arrival of an anti-Covid pill but still worried about inflation after the publication of a new indicator.

Around 10:05 am, the Dow Jones was up 0.04% to 33,856.27 points. The index with the strong technological scent Nasdaq, fell back him, on the other hand, by 0.72% to 14,345.18 points. The broader S&P 500 Index was down 0.27% to 4,295.71 points.

September, marked by several dropouts, was the worst for the major indices since March 2020.

For Karl Haeling, of LBBW Bank, the increase in indices was directly linked to the announcement, by the American laboratory Merck, of clinical results for its anti-Covid pill molnupiravir, showing that it reduced the risk of hospitalization by 50%. or death.

Merck (+ 9.60% to 82.32 dollars), which calls itself MSD outside the United States because there is another German group of the same name, has announced its intention to seek authorization “as soon as possible” urgency for placing on the market.

“It seems that this has the potential to be a game-changer” in the management of the coronavirus pandemic, said Karl Haeling.

Investors, however, kept the theme of inflation in mind with the publication of a very high figure for August (4.3% over one year) by the Commerce Department, which confirms the persistence of the rise in prices in the United States. United.

Operators also kept in mind the ongoing negotiations in Congress, which on Thursday voted an emergency text to allow the government to continue operating, but could not reach an agreement on raising the debt ceiling. .

Moreover, a time announced, the vote in the House of Representatives on the massive infrastructure investment plan did not finally take place.

On Wall Street, the good results of Merck affected, in turn, the Pfizer laboratories (-2.21% to 42.06 dollars) and especially Moderna (-14.29% to 329.85 dollars), which each manufacture a vaccine against the coronavirus.

On the other hand, they benefited several sectors, in particular that of cruises, the giants Norwegian Cruise Line (+ 5.24% to 28.11 dollars) or Carnival (+ 3.56% to 25.90 dollars) putting the nose to the window, just like the airlines, led by United Airlines (+ 5.84%) or American Airlines (+ 3.73%).

Electric vehicle maker Lordstown Motors slipped (-10.66% to $ 7.13) after announcing the sale of its assembly plant in Ohio to Taiwanese electronics giant Foxconn, which will also take a stake in the start-up.

The American videoconferencing platform Zoom benefited (+ 1.71% to 265.95 dollars) from the abandonment of its plan to acquire the specialist in remote computing (cloud) for customer services Five9 (+ 0.45% ).

On the bond market, rates continued to ease, after more than a week of continued tension. The 10-year US government bond rate stood at 1.48%, compared to 1.50% the day before.

According to Karl Haeling, the operators were somewhat reassured by the return of certain investors in this market, in particular the Japanese, after a wave of sales which had worried.

Nasdaq

tu / jum / ngu