NEW YORK (AP) – U. S. stocks will spend another day back and forth thursday as Wall Street waits to see if Washington can overcome its partisanship to supply the economy more.
The S
The Dow Jones industrial average rose 17 points, less than 0. 1%, in 27802 at 2:38 p. m. East Time, and the Nasdaq compound rose 1. 3%.
The market was re-evolving erratically. The Dow Jones had risen 259 emissions earlier and dropped to 112. These movements have been typical recently, with several primary oscillation adjustments that have driven markets in a day.
Morning knowledge reports painted a combined picture of the economy, which also contributed to the slowdown in the market. One said the speed of layoffs across the country could possibly have slowed last week, and that the number of employees claiming unemployment benefits fell from 873,000 to 837,000. This is a greater decline than economists expected, even though the number remains incredibly higher than before the pandemic.
“In fact, we expect the employment scenario to be slow,” said Scott Wren, senior global market strata at the Wells Fargo Investment Institute. “Things seem to be going in the right direction. “
But other reports showed that non-public revenues weakened more than expected and that expansion in the country’s productive sector declined than expected.
There are also precautionary symptoms for the economy, which has recently slowed down after the last stimulus circular approved by Congress expires. Walt Disney Co. and other primary corporations announced even more layoffs this week, and time is running out in Washington to offer more support. .
American Airlines CEO said he would cancel the 19,000-employee license if Washington could reach a $25 billion deal for airlines “in the coming days. “United Airlines has told government officials that it could also cancel the 13,000-employee license. . American Airlines rose 1. 8% and United Airlines 0. 6%.
Growing and empty hopes of an agreement on Capitol Hill sent movements on a roller coaster on Wednesday, as they have in recent weeks.
“The market, out of need for anything else to negotiate, has answered those headlines about the bullish potential,” Wren said.
Treasury Secretary Steven Mnuchin and House Speaker Nancy Pelosi spoke for 90 minutes on Wednesday and hopes for an agreement helped boost the S
The two men have worked well in combination in the afterlife and helped through the economic bailout approved by Congress in March, but the country’s partisan divide has only deepened since then, slowing the progress of aid investors see in terms of the economy. the next election is in about a month.
The yield on 10-year Treasury bonds fell to 0. 67% from 0. 69% due Wednesday after abandoning past earnings.
In Asian markets, trading on the Tokyo Stock Exchange has been suspended due to a technical failure of its computer systems.
The Tokyo Stock Exchange said it planned to resume general operations on Friday. Officials said the industry stopped early Thursday because restarting the mass formula after the malfunction would have caused confusion.
TSE President Koichiro Miyahara has apologized for disrupting the industry in the world’s third-largest stock market, where about 70% of securities and volume brokerage are made through foreigners.
The disruption of the inventory market overshadowed Japan’s main economic news of the day, the first improvement in production sentiment in 3 years, despite the pandemic.
Trading in the South Korean, Hong Kong and mainland China stock markets have been closed for public holidays.
In Europe, the German DAX fell by 0. 2% and the French CAC 40 rose 0. 4%. The FTSE 100 in London rose 0. 2%.
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Yuri Kageyama, editor of AP, contributed.
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