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Investors Look to Consumer Confidence on Wall Street

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Stock markets in New York opened Friday without major price movements. Investors’ attention will include the latest US consumer confidence figures. The University of Michigan gauge will indicate how consumers view the economic situation later on Friday.


Last month, US consumer confidence took another hit, to which the stock markets reacted. The decline in confidence was partly caused by concerns about the increasing number of infections with the Delta variant of the coronavirus.

Shortly after the start, the Dow-Jones index recorded a minus of 0.1 percent at 34,714 points. The broad S&P 500 lost 0.2 percent to 4,466 points, and technology gauge Nasdaq fell 0.2 percent to 15,153 points.

Manchester United, which is listed in New York, closed the past financial year that ran to June with a loss of 92.2 million pounds, converted more than 100 million euros. The English football club with a listing on Wall Street saw its income on and around match days disappear as a result of the corona crisis. Commercial income was also affected by the crisis. However, most of the loss was due to higher taxes. Manchester United was down 1.3 percent at the opening.

General Motors (GM) announced that it would no longer produce Chevrolet Bolts due to a shortage of batteries. Earlier, the car manufacturer announced that electric car owners would be wise to park their car at a safe distance from other vehicles. According to GM, the risk is less that other cars will also be damaged by the Bolt spontaneously catching fire. GM opened 0.2 percent higher.

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