The US’ primary stock indices show mixed dynamics in trading on Tuesday, November 10, while technology sector shares are among the underdogs.
During his speech today, the head of the Federal Reserve of Dallas, Robert Kaplan, expressed concerns about the increasing economic risks in the short term due to the rapid spread of the coronavirus. It should be noted that the United States became the first nation to report more than 10 million coronavirus cases on Sunday. In response, officials are re-introducing restrictions in some states and counties to curb the spread of the virus. Kaplan said it will be difficult for the country to fully recover for the next two years, but he expects economic growth to rebound in the second half of 2021.
According to The Job Openings and Labor Turnover Survey (JOLTS) released on Tuesday the number of vacancies dropped from 6.493 million in August to 6.436 million in September.
The broad market Standard & Poor’s 500 index has marginally dropped 0.14 percent to 3,545 points, the blue-chip Dow Jones Industrial Average was up 0.90 percent at 29,420 points, and the high-tech industry NASDAQ Composite index was up 1.37 percent to 11,553 points.
Light crude futures for December delivery were up 2.7 percent at $41.36 per barrel. The price of gold is 1.49 percent higher and is at $1,876.4 per troy ounce. Meanwhile, the EUR / USD currency pair, at 1.1814, is up 0.01 percent.
Shares of Apple Inc (AAPL), one of the world’s leading computer and mobile device manufacturers, and part of the “US Balanced” well as “Global” strategy (available only to eligible investors) decreased by 0.30%.
The shares of veggie burger maker Beyond Meat Inc (BYND) were down -16.94 percent after the company reported a net loss of 28 cents per share for the third quarter which came are worse than the analysts’ expectations.