The Dow Jones Industrial Average and S&P 500 were under pressure Friday, as concern over a Covid-19 resurgence weighed on global markets.
for unvaccinated people, as a fourth wave sent daily cases to a record high.
Shares of air carriers were also lower as investors worried about the Austrian lockdown's potential effects. United Airlines fell 3% while Delta and American fell more than 1%. Other travel stocks dropped too, with Expedia and Booking Holdings down 2% and Airbnb losing 4%. Cruise lines were about 3% lower.
The decline in airline and travel stocks comes about a week after the Biden administration lifted pandemic travel restrictions that have barred many international visitors for nearly 20 months. That move was cheered by airlines and other travel companies. But the increase in Covid cases and new restrictions in Europe is damping hopes for an immediate rebound in trans-Atlantic travel, a usually lucrative segment that is key to large carriers' return to profitability.
Big energy companies were mostly lower as concerns about energy demand related to new lockdown orders hurt oil prices, which were already in a slump. Occidental Petroleum and Devon Energy led the declines, falling 3% Friday.So far this week, the blue chip Dow is down 0.6%, on pace for its second negative week in a row. The S&P 500 and the tech-heavy Nasdaq Composite are headed for modest gains, up 0.5% and 0.8% this week, respectively.
Those weekly moves come despite major retailers reporting strong quarterly earnings. Macy's and Kohl's both blew past analyst estimates in their quarterly reports released Thursday.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
S&P 500 rises in choppy session as Nvidia leads gains in tech sharesThe S&P 500 gained in a choppy session after strong earnings results from Nvidia, the world’s largest chipmaker by market value, and various retailers. The Dow fell 0.17%. The S&P 500 gained 0.34%. The Nasdaq was up 0.45%.
Weiterlesen »
November's full moon will be the longest partial lunar eclipse in over 500 yearsNovember's full moon, the longest partial lunar eclipse in over five centuries, will grace the sky in North America and northeast Russia late Thursday into early Friday.
Weiterlesen »
Santoli’s Wednesday market notes: A bid in Big Tech supports an otherwise listless S&P 500New for subscribers: Santoli’s Wednesday market notes: A bid in Big Tech supports an otherwise listless S&P 500. Check out CNBCPro today.
Weiterlesen »
From Beau Brummel to A$AP Rocky, Menswear’s 500 Are Celebrated in ‘The Men’s Fashion Book’'The Men's Fashion Book' features stylish men from Beau Brummell to asvpxrocky.
Weiterlesen »
Wall Street poised for mixed start as investors fret over Europe's COVID casesU.S. stock futures struggled Friday following more record highs for equities, as investors fretted over Europe's rising COVID-19 cases and a lockdown for...
Weiterlesen »
S&P 500 rises in choppy session as Nvidia leads gains in tech sharesThe S&P 500 gained in a choppy session after strong earnings results from Nvidia, the world’s largest chipmaker by market value, and various retailers. The Dow fell 0.17%. The S&P 500 gained 0.34%. The Nasdaq was up 0.45%.
Weiterlesen »