+17 C°
Traffic jam:   0

Stock indices are declining

6 November 2020
2 min.
Stock indices are declining

It all depends on the presidential election

US stock indices are falling on Friday as investors await the results of the presidential election and assess the United States Department of Labor market report for October.

According to the latest figures, Democrat Joe Biden is taking the lead in counting votes in Georgia and Pennsylvania, bringing him closer to winning the election.

Meanwhile, incumbent President Donald Trump has launched a major attack from the White House on the entire democratic process, claiming that his elections are being "stolen".

Meanwhile, the US Labor said on Friday that unemployment in the country fell to 6.9% in October compared to 7.9% in September, with an expected decline to 7.7%.

The number of people employed in the US economy excluding the agricultural sector increased by 638,000 last month, while analysts expected an increase of 600,000. The Dow Jones index decreased by 0.17% to 28,341.52 points, the S&P 500 index by 0.15% to 3,505.34 points and the Nasdaq index by 0.43% to 11,840.24 points.

Despite the decline, the S&P 500 and Nasdaq could end the week with the largest increase since April as the prospect of a Democrat President and Republican Senate majority eased fears of tighter US corporate sector regulations.

Shares of technology companies including Apple Inc (NASDAQ:AAPL), Amazon Inc. (NASDAQ:AMZN), Facebook Inc. (NASDAQ:FB) and Alphabet (NASDAQ:GOOGL) Inc are declining after strong growth this week.

Coty Inc.'s paper price jumped 12.7% thanks to better-than-expected quarterly revenue from the cosmetics and perfume manufacturer.

T-Mobile US Inc rose by almost 6% on the back of new subscriber growth in the third quarter, which was stronger than market forecasts.

Meanwhile, the capitalisation of Electronic Arts (NASDAQ:EA) Inc, a video game developer, fell by 7.9% due to weak quarterly forecasts.

Persons2 and Companies11 in the news

46th President of the United States
1 place
45th President of the United States
2 place
Electronic Arts
1 place
Coty Inc.
2 place
4 place
Dow Jones
5 place
6 place
7 place
9 place
10 place
White House
11 place


Rating companies
66 Mention
65 Mention
61 Mention
54 Mention
Dow Jones
49 Mention
49 Mention
35 Mention


News from GlobalNY.biz is the freshest and most relevant information about high-profile events in the region. The task of the resource's news feed is to convey to readers with maximum accuracy and objectivity information about important events in business, politics, economy, healthcare, culture and other spheres of life in New York.
GlobalNY.biz news is a coverage of economic processes taking place in New York, the latest news of public life, incidents and an overview of political events. New York news is information about the activities of small and medium-sized businesses, the work of housing and communal services and utilities, the implementation of significant projects.
The site's journalists describe not only the life of the region, but also talk about the current state of the US economy. Everything you need to know about innovations in the field of industry and agriculture, economy and power is collected in the "News" section at GlobalNY.biz.
New York news quickly informs the reader, shows the real picture and opens up hot topics. Communication with government structures and business enables us to provide our readers with reliable, information-rich material. The main page of the portal contains the key news of New York!
Alena Potapova

Development Director