Wall St kicks off last session in record month

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Wall St kicks off last session in record month


USA-STOCK EXCHANGE-OPENING: Wall St starts in scattered order the last session of a record month


WALL ST BEGINS IN DISPERSED ORDER


© Reuters/BRENDAN MCDERMID
WALL ST BEGINS IN DISPERSED ORDER


PARIS (Reuters) – The New York Stock Exchange opened in scattered order on Monday, amid hopes of coronavirus vaccines, lower oil prices and resumption of mergers and acquisitions, for the last session of a particularly auspicious month for stocks.

A few minutes after the start of trading, the Dow Jones index lost 259.52 points, or 0.87%, to 29,650.85 and the Standard & Poor’s 500, larger, fell 0.39% to 3,624.31 then that the Nasdaq Composite is stable at 12,207.55 points.

The Dow Jones is currently up 11.8% since the start of the month and the S & P-500 is up 10.8%, its best performance for a month of November since its creation, thanks to hopes of a rebound economic in 2021, fueled by the election of Joe Biden and especially by the announcements of progress in the research of vaccines against the coronavirus.

On this last point, the Moderna laboratory is preparing to take a new step since it announced on Monday its intention to file an emergency authorization request with the American and European authorities.

Video: The Dow Jones ends for the first time above 30,000 points on Wall Street (AFP)

The Dow Jones ends for the first time above 30,000 points on Wall Street

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Moderna shares jumped 17.16%.

On the downside, oil stocks are suffering from the fall in crude prices pending decisions by OPEC and its major allies on their common production strategy.

Chevron perd 1,36%, Occidental Petroleum 1,45%, ConocoPhillips 2,52%.

Department store chains are also struggling after a “Black Friday” marked by a drop in attendance, a health crisis obliges: the Macy’s and Kohl’s brands respectively dropped 3.78% and 3.8%.

In the news of mergers and acquisitions, IHS Markit gains 6.6% after the announcement of its acquisition by S&P Global (+ 1.15%) for 44 billion dollars (36.7 billion euros) and Slack Technologies takes 6.74% after information from CNBC evoking the announcement on Tuesday of a buyout by Salesforce (-2.28%).

(Marc Angrand, edited by Jean-Michel Bélot)

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