US Stock Market Earnings
Investors on Wall Street summarize employment data
Unemployment continued to fall in March, employment continued to rise: a look at the US labor market points to a recovery course. The US Dow Jones index closes in positive territory at the beginning of April.
US stock markets have been largely directionless. They fluctuated between modest gains and losses and then exited the trade on a positive note. Strong labor market data for the month of March supported. At the same time, the surprising drop in industry sentiment weighed on investor sentiment.
After one for the dow jones industrials After a very weak first quarter, the US leading index rose 0.40 percent to 34,818.27 points in early April. The Wall Street index weakened slightly over the course of the week. the S&P 500 it advanced 0.34 percent to 4,545.86 points on Friday. the Nasdaq 100 it rose 0.15 percent to 14,861.21 points.
A look at the US labor market also pointed to a recovery course for March: unemployment continued to fall and is rapidly approaching the level it was at before the corona pandemic. Employment continued to rise, albeit at a slightly slower pace than analysts had expected. Helaba experts spoke of a “robust constitution.” The US Federal Reserve (Fed) is likely to worry about the additional increase in wages as it could boost inflation which is already very high.
The ISM Purchasing Managers’ Index for US manufacturing fell to 57.1 in March compared to February, as analysts averaged expectations for an increase. However, a value above 50 still indicates increasing business activity. Rather, some brokers were concerned that there had been a sharp drop in the assessment of incoming orders.
Apple shares wobble
On the company side, Telekom shares were on the Dow towards the end of trading. Verizon with over 2.3 percent at the top of the index. The papers of the chipmaker brought up the rear intelligence with minus 2.9 percent. However, there was no news.
Apple it continued to weaken by minus 0.2 percent after its recent eleven-day rally. This brought shares of the iPhone maker back close to their all-time high from early January. Now it is down again for the third day in a row. It may have been a burden that JPMorgan insider Samik Chatterjee also removed Apple from the “Analyst Focus List” in addition to Qualcomm, which fell 3.8 percent.
To do this, he took the roles of the communications network equipment providers Ciena and Arista. According to a recent study, he sees these two as particularly resilient in a tougher economic environment with respect to telecom customers’ spending on their networks, as well as cloud companies and their infrastructure development. hundred increased by 0.7 percent and Edge by 0.4 percent.
Gamestop plans to split shares
Outside of the major indices, stocks soared among individual stocks. stop the game It was up 14 percent at the start of trading, but then ended the day 1.0 percent weaker. The computer game retail chain is planning a stock split to make the current $165 share more tradable and therefore more interesting to small investors. However, the stock is highly susceptible to fluctuations, as the year to date shows. After nearly halving in mid-March, the paper is back up a third over the course of this trading week alone.
the Euro It was $1.1049 at the close on Wall Street after rising as high as $1.1075 in early Frankfurt trading. The European Central Bank set the reference rate at 1.1052 (Thursday: 1.1101) dollars. the dollar it costs 0.9048 (0.9008) euros.
In the US bond market, the ten-year Treasury bond futures contract (T-Note Future) fell 0.55 percent to 122.20 points. The ten-year government bond yield rose to 2.39 percent.