Wall Street closes mixed, leveraged by technology

The main stock market indexes in the United States ended in the red - with the exception of the technological Nasdaq, which closed winning but only slightly. The day was marked by the disclosure of the results of several companies

25% Crash on Wall Street

The main Wall Street indices ended this Tuesday in the red, but with less losses than the previous day. The Dow Jones yielded 0,80% to 27.463,19 points; the S&P 500 lost 0,30% to 3.390,68 points; and the Nasdaq Composite grew 72,41 points, or 0,64%, to 11.431,35 points.

Investor sentiment fell after the White House said an agreement to fight the pandemic could happen in "weeks", meaning that it is unlikely before it happens before the November 3 elections.

But Nasdaq, which has a heavy weight in technology, grew while Microsoft posted positive results. Incidentally, the focus of investors was this Tuesday turned to the presentation of results.

The shares of the pharmaceutical company Eli Lilly and Co fell after quarterly earnings were hit by rising costs to develop a treatment against Covid-19 that ultimately failed.

"This setback we saw is a bit of a move away from risk, as an additional stimulus package has now been put aside," said Kevin Flanagan, manager of WisdomTree Investments, quoted by Reuters. "This led to some disappointment."

Nasdaq rose in anticipation of the results later this week from Apple, Amazon.com, Alphabet and Facebook. Analysts said. The technology indicators together account for about a fifth of the total value of the S&P 500. Analysts expect the technology sector to see a 0,4% increase in third quarter earnings over the previous year.

On the other hand, concerns about the increase in coronavirus cases in the country are weighing on the market, analysts say, but the technology sector appears to be the least exposed, said Rick Meckler, manager Cherry Lane Investments, also cited by Reuters. "The focus on large technology companies can lead the market to recover, despite the problems that the virus is creating," he said.

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