Wall Street closes festive week in 'green' to contrast with record of admissions by Covid-19

João Barros 27 November 2020, 19:12

The three indexes closed the week in green, with Thanksgiving Day confirming strong retail breaks, partly offset by record sales volume on electronic channels.

Wall Street closed this Friday in the green, this in a week marked by the festive season of Thanksgiving Day and the continuation of the high numbers of cases of Covid-19 in the USA, which verified a record of hospitalizations.

The Dow Jones closed to gain 37,9 points to 29.910,37, which corresponds to an appreciation of 0,13%. The S&P 500 appreciated 0,28%, closing at 3.639,88 points. The Nasdaq, on the other hand, achieved the highest gains in the three indices, rising 0,92% to 12.205,85.

The market's appetite for technology reflects the last months of the pandemic, in which these titles have been the main winners. On the other hand, procyclical bonds ended up being penalized by the continuous concern with the numbers of cases of infection by Covid-19, which remain high in the USA. This week, American hospitals registered more than 89 hospitalized with the disease.

Preliminary data from Black Friday and from the campaigns leading up to this day also show that, although retail continues to suffer from restrictions on activity and circulation, electronic commerce continues to reach historic values, which motivates investors to focus on securities in this sector.

Wall Street opens in fall with bank results

In 2020, JP Morgan Chase, the largest banking group in the United States, made a net profit of $ 29.131 million, 20% less than in 2019. In annual terms, the American banking group Citigroup made a net profit in 2020 11,370 million dollars, 41% less than the previous year. Wells Fargo's net profit in 2020 fell 83,1% to $ 3.301 million.

Sale of shares reinforces notion that CTG sees EDP as a financial investment, says BPI

The Chinese state-owned company launched a public takeover bid on all of EDP in May 2018, but withdrew after the amendment to the bylaws to end the 25% vote limit per shareholder was failed. Since that time, it sold 1,8% in February 2020, but reinforced the capital increase in August.