2024-04-06 02:13:28
Stock news 6:30 a.m. 2024-04-06
The Dow Jones New York Stock Exchange index closed positive on Friday (April 5) following the release of strong employment data reinforced views that the U.S. economy remains strong, despite indications that the Federal Reserve (Fed) may slow down. reduce the interest rate even though
The Dow Jones Industrial Average closed at 38,904.04 points, an increase of 307.06 points or +0.80%, the S&P 500 index closed at 5,204.34 points, an increase of 57.13 points or +1.11%, and the Nasdaq index closed at 16,248.52 points, an increase of 199.44 points or +1.24%.
But in this week The Dow Jones Industrial Average fell 2.3%, the S&P 500 lost 1% and the Nasdaq dropped 0.8%.
Every group of stocks in the S&P500 index closed positive, with stocks in the communications services group, industrial group and technology group improved the most
The US Department of Labor revealed that non-farm payroll employment increased by 303,000 in March. Higher than analysts’ expectations of 205,000 jobs.
The unemployment rate dropped to 3.8%, lower than analysts’ expectations of 3.9%.
Such employment data indicates that The US economy closed the first quarter strong.
Analysts say This information reinforces the prediction that The Fed is likely to delay rate cuts. Considering that the US economy has not yet entered a recession.
Currently, the financial market predicts that The Fed may cut interest rates twice this year, down from the three expected last week.
As for individual stock movements, Krispy Kreme shares rose 7.3% following Piper analysts Sandler recommends increasing investment weight in this stock. From the original recommendation to invest equal to the market.
Shockwave Medical shares surge 2% following Johnson & Johnson agrees to buy Shockwave shares. Medical, a $12.5 billion medical device company;
But Tesla shares fell 3.6%, going once morest the market following Reuters reported that Tesla has canceled production of cheap models. It was previously predicted that It will help drive Tesla’s market expansion.
By InfoQuest News Agency (06 Apr. ’24)
Tags: Dow Jones, New York Stock Exchange
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