Pharmaceuticals lose on Wall Street | Financial

The Dow Jones index closed 0.3 percent higher at 34,230.34 points. The broad S&P 500 rose 0.1 percent to 4,167.59 points. Tech gauge Nasdaq ended the session with a loss of 0.4 percent to 13,582.42 points.

Pharmaceutical Pfizer, known for its corona vaccine, saw an earlier gain almost completely evaporated and closed a fraction higher. Partner BioNTech (minus 3.5 percent) and sector colleague Moderna (minus 6.2 percent), another developer of a successful corona vaccine, were also hit by the turnaround in US patent policy.

General Motors (GM) gained 4.1 percent in stock market value. The car group posted a higher profit in the first quarter than a year earlier. Then the company was greatly affected by the start of the corona pandemic. Furthermore, the manufacturer of cars from brands such as Chevrolet and Cadillac maintained financial expectations despite the chip shortage in the car industry.

Stellantis in demand

Industry peer Stellantis (plus 7 percent) also came up with figures. The parent company of Fiat, Jeep and Peugeot, among others, said it will end a deal with Tesla to merge the CO2 emissions of both companies. For the producer of electric cars, this means that it loses a source of income. Deals with other car groups have ensured that Tesla (minus 0.4 percent) made a profit in recent years.

Peloton Interactive lost nearly 15 percent of its stock market value. The manufacturer of expensive exercise bikes had to recall two models of treadmills after reporting 70 accidents with the machines. A child died in one of the accidents.

Oil depreciated despite a decline in US crude oil inventories after gasoline inventories were found to have risen. A barrel of American oil was worth 0.9 percent less and cost $ 66.27. A barrel of Brent oil was sold for $ 69.55, down 1 percent.


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