December 1, 2020

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Wall Street opens at a profit

Wall Street opens at a profit


Photo: ANP

The stock exchanges in New York opened at a profit on Friday after the previous day’s losses. Wall Street investors remain vigilant to further coronavirus developments and the threat of stricter lockdowns against the pandemic. Entertainment and media company Walt Disney and networking equipment and software maker Cisco Systems are in the spotlight by the numbers.

Shortly after the opening, the Dow Jones Index rose 0.7 percent to 29,276 points. The broad S&P 500 rose 0.7 percent to 3,559 points and the technology indicator Nasdaq rose 0.5 percent to 11,883 points.

Walt Disney’s stock rose 3.3 percent. The company ended the past quarter in a loss, but the shortage was less than what experts generally believe. The presentation of the numbers showed, among other things, that the Disney + streaming service was performing well. There was also a cautious recovery in the amusement parks.

Cisco grew by almost 7 percent. In particular, the outlook outlined by the company appears to have been approved by investors. Cisco expects that as the economy recovers, the willingness to invest in network equipment will increase again, including among governments.

The e-sports and games group DraftKings achieved better results than expected. The company has also raised its expectations for the year. This was rewarded with a price gain for DraftKings of more than 6 percent.