Wall Street goes into the weekend with profits

Robinhood users primarily invest in large companies

For the third day in a row, Wall Street went up on Friday.

Peter Bischoff/Getty Images

© Provided by Finanz.net
Peter Bischoff/Getty Images

He spent the last day of the week Dow Jones in the profit zone and closed 0.57 percent higher at 28,586.90 points.

Wall Street was able to record its highest weekly profits since the end of August with a plus of around 3 percent.

Video: Deutsche Börse brings major Dax reform on the way (dpa afx)

According to stockbrokers, there was also hope that politicians would pass an economic stimulus package before the US election. Most recently, negotiations between Republicans and Democrats over a scaled-down aid program had resumed. The Speaker of the House of Representatives, the Democrat Nancy Pelosi, rejected calls by US President Donald Trump for separate aid to airlines. This needs to be part of a larger package. Treasury Secretary Steven Mnuchin announced that the government was open to such a policy.

“Investors are clearly sensitive to the stages of fiscal talks,” said FXTM market analyst Han Tan. They clung to every glimmer of hope that there would be additional help.

Tailwind from China

Some support comes from China, where the Caixin purchasing managers’ index for the service sector, which rose in September, underpins the previously known positive impression of the official index. Finanzen.net / Dow Jones Newswires


Please enter your comment!
Please enter your name here