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The futures contracts on the stock indices point to a little changed start on Wall Street on Friday. This could change somewhat, however, because important economic data are primarily published with retail sales and industrial production. On Thursday, the indices fell for the third day in a row, burdened primarily by the second corona wave in Europe, but also in the USA. The current discussion about new restrictions in the economy hits investors hard on the stomach. In addition, disappointment is spreading on Wall Street that, given the current state of affairs, an aid package for the economy will no longer come about before the elections.
There are some serious concerns that infections will rise again in the US, says US equity expert Ronald Temple of Lazard Asset Management: “I am concerned that this will bring headwinds to the market by the end of the year.” Consumers may be particularly restrained when traveling, eating out, going to the movies and shopping.
The uncertainty as to when a suitable corona vaccine will be available also continues to cause concern.
An optimistic outlook from Hewlett Packard Enterprise (HPE) and second-tier business figures determined aftermath trading on Thursday.
Hewlett Packard Enterprise improve primarily by 0.6 percent. The provider of servers and network products has published a three-year plan with which the company aims to return to growth. In the course of this, HPE has significantly raised its profit forecast for the financial year ending 2021 (as of October 31). It is now above the analyst consensus.
Del Taco restaurants collapse by a good 7 percent. The business figures for the fast-food chain that were published after the close of trading were somewhat better than expected, although the share had previously gained around 11 percent in regular business.
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(END) Dow Jones Newswires
October 16, 2020 6:13 AM ET (10:13 GMT)