Stock Market Reporting 11/12/20

November 12, 2020 22:55 NYST – The DOW Jones Industrial (DOW), NASDAQ (NDAQ), and Standard & Poor’s (S&P500) composite indices fell sharply Thursday by 318 points (1.1%), 79 points (0.7%), and 36 points (1.0%), respectively.

The sharp drop on Wall Street can be #attributed to the accelerating spread of Coronavirus, but not #notably #accredited to king @Trump of America, the New Babylon. Despite the fact, his biblical defiance contributes to the spread of the Coronavirus plague.

Additionally, the #exponential rise in Coronavirus cases continues to impact the most vulnerable companies on Wall Street. Airlines and Cruise operators American Airlines (AAL), Carnival (CCL), and Royal Caribbean (RCL) affected the S&P 500 Thursday by falling 0.3 points (2.5%), 1.3 points (7.9%), and 2.8 points (3.9%), respectively. And over the last 5 years the same companies fell dramatically 31 points (72.3%), 44 points (74.7%), and 30 points (30.7%), respectively.

The fall on the S&P 500 is countered by the reality that the divided House of Representatives in the US Congress will likely #impede President Elect Joe Biden from raising taxes on the wealthy and corporations, hindering profit losses. However the market is not considering the impact this will have on the general 99% populous and the associated economic consequences. Perhaps, because the top 1% of the world owns the DOW (DOW), NASDAQ (NDAQ), and S&P 500 (S&P500). But, from the 5 year stock portfolio of the Airline and Cruise industry, it is clear an economic cancer fosters underneath the surface.

A divided House of Representatives in the US Congress also puts drag on the DOW, as Boeing (BA) and Goldman Sachs (GS) reacted negatively to the continued lack of stimulus by falling 5 points (3%) and 3.5 points (1.6%), respectively @nyse.