NEW YORK, Oct 13 — Wall Street’s main indexes fell today after a four-day winning streak as a pause in Johnson & Johnson’s Covid-19 vaccine trials spurred concerns about a full economic rebound from the coronavirus-led downturn. Johnson & Johnson raised its annual profit forecast, but...
Tuesday, 13 Oct 2020 10:41 PM MYT
Johnson & Johnson raised its annual profit forecast, but its shares dropped 1.2 per cent as it suspended clinical trials following an unexplained illness in a study participant, possibly delaying one of the most closely watched efforts to contain the global pandemic. Adding to the negative tone, US House Speaker Nancy Pelosi rejected President Donald Trump’s latest offer on Covid-19 stimulus, in the latest sign that a bipartisan deal on coronavirus relief remains unlikely ahead of the November election.
Shares of Amazon.com Inc, which have already surged 86 per cent this year, added 0.2 per cent as it began 48 hours of promotions as part of “Prime Day” in an early start to the holiday shopping season. Overall, analysts expect third-quarter earnings for S&P 500 firms to slide 20.7 per cent from a year earlier, smaller than a 31 per cent tumble in the prior quarter.
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