The Stock Exchanges in New York Opened With A Loss on Friday

The stock exchanges in New York opened with a loss on Friday. In recent days, there have been growing concerns about the pace at which economies may come out of the corona crisis.

 

Investors also respond to figures on the faltering recovery of the European industry and keep an eye on developments surrounding the US presidential elections.

Shortly after the opening bubble, the leading Dow Jones index recorded a fraction lower at 27,737 points. The broad S&P 500 lost 0.1 percent to 3381 points, and tech gauge Nasdaq lost 0.1 percent to 11,252 points.

Farm equipment manufacturer Deere was up 4.3 percent in the early trade. The company has significantly raised expectations for the rest of the year. Deere has recently benefited, among other things, from rising sales in North America as farmers replace their obsolete fleets there.

However, this could not prevent global sales from falling last quarter as a result of the corona crisis. Deere has already cut spending and investment, including by cutting jobs.

In addition, the focus is on pharmaceutical companies Pfizer (minus 0.2 percent) and BioNTech (plus 9 percent). They have indicated that for the corona vaccine they are working on, an application for approval may be submitted to regulators in October.