Economy

Wall Street down after schools close | Financial

The leading Dow Jones index ended 1.2 percent lower at 29,438.42 points. The broad-based S&P 500 also dropped 1.2 percent to 3567.79 points. Tech gauge Nasdaq lost 0.8 percent to 11,801.60 points. In the end of the trade, losses were increasing.

Boeing ultimately lost 3.2 percent. The aircraft maker received the approval of the US aviation authority FAA. The 737 MAX aircraft have been grounded for over a year and a half, after two accidents involving the type occurred in a short time. Airlines such as American Airlines (plus 0.3 percent) and Southwest Airlines (minus 0.1 percent) announced plans to return the 737 MAX aircraft to commercial flights.

Apple

Tech giant Apple closed 1.1 percent higher. The company announced that it would lower the rates in its own app store. The company also settled for $ 113 million in a case involving iPhones. Apple is said to have deliberately slowed the battery performance of older models of iPhones through software updates.

There was also a lot of attention for pharmaceutical company Pfizer, which won 0.8 percent. The corona vaccine from Pfizer and the German biotechnologist BioNTech is more effective against the virus than previously stated, according to the two companies.

Target

On the quarterly front, retail chain Target (plus 2.3 percent) opened its books. The results were better than expected, helped by higher sales over the internet. The performance of DIY company Lowe’s disappointed. That company lost more than 8 percent of stock market value. Discount chain TJX Companies rose nearly 2 percent after numbers.

Furthermore, the producer of meat substitutes Beyond Meat announced that it will sell minced pork on a vegetable basis in China. The Beyond Meat share gained more than 3 percent in market value.

The euro was at $ 1.1855, against 1.1866 at the close of the European stock markets earlier in the day. A barrel of American oil became 0.6 percent more expensive at $ 41.91. Brent oil climbed 1.2 percent in price to $ 44.27 a barrel.

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