In the early morning of the 24th Beijing time, US stocks closed mixed on Friday, with all three major stock indexes falling this week. The last debate in the US presidential election has come to an end. Investors continue to follow news of the US fiscal stimulus stalemate, earnings and coronavirus treatment.
The Dow fell 28.09 points, or 0.10%, to 28335.57; the Nasdaq rose 42.28 points, or 0.37%, to 11548.28; and the Standard & Poor's 500 Index rose 11.90 points, or 0.34%, to 3465.39.
This week, the Dow is down about 1%, the Nasdaq is down 1%, and the S & P 500 is down about 0.5%. The Dow and the S & P 500 ended three consecutive weeks of gains, with the Nasdaq falling for the first time in five weeks.
The talks on US fiscal stimulus remain deadlocked, with House Speaker Nancy Pelosi and Treasury Secretary Mnuchin passing the buck. Shelby, chairman of the Senate Appropriations Committee, said Friday that the chances of a stimulus deal between the two sides are slim.
"I think everyone is still watching," said Mike Katz, a partner at Seven Points Capital. There are many ups and downs in the fiscal stimulus negotiations, the outlook is still uncertain, and every twist in the negotiations makes the market fluctuate with it. "
Snap Inc in US technology stocksIt rose by more than 10% and continued its new high, while Snowflake Inc fell by more than 11%.And Tesla, Inc.It fell by more than 1%.
Gilead shares rose as the company's antiviral drug, RedSivir, became the first drug to be officially approved by the U.S. Food and Drug Administration (FDA). The drug was used this month to treat US President Donald Trump after he was diagnosed with the coronavirus.
Intel(INTC) closed down 10.6% after the company announced an unexpected drop in data center chip sales as its sales to corporate and government customers nearly halved during the coronavirus outbreak.
American Express Co Ltd.(AXP) closed down 3.7%, and the company's third-quarter profit fell short of market expectations.
Fiscal stimulus is still deadlocked. Mnuchin and Pelosi blame each other.
The prospect of introducing fiscal stimulus legislation before the general election is rapidly fading, with Treasury Secretary Mnuchin and House Speaker Pelosi shirking each other's responsibility for the stagnant stimulus negotiations.
Pelosi said it was President Trump's responsibility to press ahead with stimulus negotiations and persuade Republicans to agree to a nearly $2 trillion aid package. "if the president wants to, we can do that before the election," Pelosi said in an interview on Friday. "
Mnuchin said significant progress had been made in the negotiations, but accused Pelosi of hindering the further progress of the agreement because she refused to make concessions on a range of priorities demanded by the Democratic Party.
"We have made concessions," Mnuchin said. Pelosi is still doing in-depth research on many issues. If she is willing to compromise, then an agreement can be reached. "
The dialogue between Pelosi and Mnuchin has been stagnant for the past day and a half. Trump again mocked Pelosi's insistence on providing aid to state and local governments on Friday, accusing her of wanting to postpone the stimulus package until after the November 3 election.
As the pace of negotiations between the two sides drags on, resistance among Senate Republicans is growing, while Mr Trump's ability to support the deal appears to be weakening. According to an official, some House Democrats are now telling Pelosi that if the Senate does not vote, they do not want to vote on legislation before the election.
Shelby, chairman of the U.S. Senate Appropriations Committee, said Friday that the chances of a stimulus deal are slim.
Pelosi said Friday that she and Mnuchin are waiting for the congressional committee to report subordinate talks before they can have their next telephone conversation.
White House economic adviser Kudlow said: "there is not much progress." Time is running out. " He also questioned the need for a comprehensive stimulus bill. "We have no reason to have such a big stimulus bill," Cudlow said. "it covers too many areas."
Pelosi said that if the White House makes further compromises, the House of Representatives still has time to vote on the stimulus bill before the election, but the Senate may not have time to act.
The last presidential debate in the US election ended.
The last debate in the 2020 US presidential election was held at Belmont University in Nashville, Tennessee. The debate focused on six themes, including the fight against novel coronavirus, the American family, American race, climate change, national security and leadership.
This is another direct confrontation between the incumbent US president and Republican presidential candidate Donald Trump and Democratic presidential candidate Joe Biden. Prior to this, Trump infected novel coronavirus and cancelled the second debate scheduled for the 15th of this month.
Biden accused Trump of having no plan to fight the epidemic, and if he had advised people to wear masks early on, he might have saved 100,000 people, questioning that he had been afraid to admit responsibility. Biden said that if elected, he would ensure that everyone is encouraged to wear masks, ensure rapid testing for the virus, and develop strategies to restart schools and businesses. He mentioned that one of the best medical journals in the world criticized Trump's fight against the epidemic as "absolutely tragic."
Focus stocks
FTC may talk to Facebook IncFile an antitrust lawsuit. The Federal Trade Commission (FTC) is about to file an antitrust lawsuit against Facebook Inc's dominant market position in the social media field, media reported, citing people familiar with the matter.
Five members of FTC met on Thursday to discuss the investigation into Facebook Inc and whether the company maintained its monopoly by acquiring smaller competitors, according to people familiar with the matter. The FTC has not yet made any decision on the case and the commissioners must vote before any proceedings can be initiated.
Intel Corp's revenue and net profit fell short of expectations in the third quarter, which fell 29% compared with the same period last year. Wade Bush lowered Intel Corp's target price from $51 to $45.
Gilead Sciences IncIt is announced that FDA has approved Redcivir as a treatment for COVID-19 's hospitalized patients. As early as May this year, the FDA approved emergency use of the drug as an antiviral drug to shorten the course of the disease, and US President Donald Trump, who was diagnosed earlier, was also treated with Redsevir.
Ride-hailing companies Uber and LyftLower, the California Court of Appeal unanimously ordered the two companies to reclassify drivers as employees.
CureVac said preclinical test data for COVID-19 vaccine showed positive results, with strong antibody-induced and T-cell responses.
Barclays' third-quarter results were better than expected.
American Express Co earned $1.30 per share in the third quarter, compared with $2.08 in the same period last year.
Barclays will SlackThe target price will be raised from $31 to $36, which will be worth more than $36.The target price was raised to $315 from $264.
Other markets
On Friday, Germany's DAX30 index closed up 105.94 points, or 0.84%, at 12649.00; Britain's FTSE 100 index closed up 73.70 points, or 1.27%, at 5859.35; and France's CAC40 index closed up 58.26 points, or 1.20%, at 4909.64.
Gold futures closed slightly higher on Friday, but gold prices fell for the second consecutive week this week. Investors continue to keep an eye on the progress of the US fiscal stimulus negotiations, the exchange rate of the dollar and the upcoming US presidential election.
Gold futures fluctuated in a narrow range on Friday and rose in the morning, but fell after the monthly IHS Markit10 purchasing managers' index for services and manufacturing.
"Gold futures prices have fluctuated within a narrow range of $50 in the past three weeks under the combined influence of a weaker dollar, a surge in global coronavirus infections, uncertainty in the US presidential election and fiscal stimulus negotiations," said Lukman Otunuga, a senior research analyst at FXTM.
"unless there is a new price catalyst, gold prices are likely to maintain this narrow volatility pattern," he said. "
Gold futures for December delivery on the New York Mercantile Exchange rose 60 cents, or 0.03%, to close at $1905.20 an ounce. Gold futures fell less than 0.1% this week, but recorded a second straight week of decline.
December silver futures fell 3 cents, or 0.1%, to close at $24.675 an ounce. Silver futures are up 1.1% this week.
Crude oil futures closed lower on Friday. The growth of Libyan crude oil exports, the stalemate of the US fiscal stimulus package and the worrying outlook for crude oil demand have pushed US WTI crude below the $40 mark for the first time in three weeks.
Libya's national oil company said on Friday that it expected to open oil exports to the port of Sidr in the next few days, and Libya would increase oil production to more than 1 million barrels a day within four weeks.
Analysts say Libya's oil exports could exceed 1 million barrels a day within four weeks.
West Texas Intermediate (WTI) for December delivery fell 79 cents, or 1.9%, to close at $39.85 a barrel on the New York Mercantile Exchange, the lowest closing price since Oct. 12.
Intercontinental Exchange Inc in LondonBrent crude for December delivery fell 69 cents, or 1.6%, to $41.77 a barrel.
In terms of the most active contracts, WTI crude futures fell 3.1 per cent and Brent crude fell 2.7 per cent this week.