American stock indices are showing a downward trend. Meanwhile, the Dow for November may show the best monthly result in 1987 amid optimism over news about COVID-19 vaccines and the prospect of new stimulus measures. The indicator is up almost 12.9% since the beginning of the month as of the close of the trading session on Friday.
In turn, the indices S&P 500 and Nasdaq may show maximum monthly gain since April.
As a result of trading on Friday, the American stock market ended in positive territory amid widespread growth in shares of technology companies and the health sector, which pushed the S indices&P 500 and Nasdaq to new closing records.
According to investors, the main drivers of recent market growth were two factors: the development of three vaccines for COVID-19, which gave hope that the economic turmoil caused by the coronavirus pandemic will subside in 2021, and the easing of political uncertainty after the US presidential election..
American company Moderna (NASDAQ: MRNA) Inc. on Monday will send a request to the US Food and Drug Administration (FDA) and the European Medicines Agency (EMA) for permission to use the vaccine it has developed for COVID-19.
The FDA vaccine committee meeting to evaluate the safety and effectiveness of the vaccine is likely to take place on December 17. According to the document, the company expects the distribution of the vaccine throughout the United States to begin "shortly after obtaining a permit for emergency use".
The prospect of vaccines gives "means some light at the end of the tunnel for investors", says Royal London Asset Management expert Trevor Gritham, quoted by Dow Jones.
The Dow Jones Industrial Average fell by 228.64 points (0.76%) by 17:56 Moscow time and amounted to 29681.73 points.
Standard & Poor's 500 decreased by 11.03 points (0.3%) - to 3627.32 points.
Nasdaq Composite lost 5.34 points (0.04%) and amounted to 12200.51 points.
Nikola Corp. falls by 21.5%. The US electric truck maker said it has signed a new supply agreement with General Motors (NYSE: GM) Co., which does not include the shareholding previously reported by GM. In September, American automakers announced a strategic partnership to build an electric pickup truck. Then it was reported that in exchange for the provision of its services and technologies, GM will receive an 11% stake in Nikola for $ 2 billion.
GM shares lose 0.03% in price.
The Dow Jones is under pressure from Salesforce.com (NYSE: CRM) Inc. and Dow Inc., which are down 3.8% and 1.7%, respectively. Coca-Cola Co (NYSE: KO) shares are also falling significantly. (-1.7%), Honeywell International Inc. (-1.85%) and Home Depot Inc (NYSE: HD). (-1.07%).
Meanwhile, Moderna shares are up 13.7% during trading..
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