American stocks strengthened again today, according to the AP agency, thus experiencing the best week since the beginning of this year. Today’s labor market data supported hopes that the period of interest rate hikes in the United States is over. The Dow Jones index, which includes shares of thirty leading American companies, gained 0.66 percent today and ended trading at 34,061.32 points. The broader S&P 500 index rose 0.94 percent to 4,358.34 points and the Nasdaq Composite index, which includes many companies from the advanced technology sector, rose 1.38 percent to 13,478.28 points.
For the whole week, the Dow Jones index rose by about 5.1 percent. The S&P 500 rose 5.9 percent and the Nasdaq gained 6.6 percent.
The U.S. unemployment rate rose a tenth of a percentage point to 3.9 percent in October, the U.S. Department of Labor reported today. The U.S. economy added about 150,000 jobs, less than expected, according to government data.
The data supported expectations that the US central bank (Fed) has already completed raising interest rates, which it started in an effort to bring inflation under control. Yields on 10-year U.S. government bonds fell to their lowest level in more than five weeks after data was released, fueling investor interest in stocks.
In the forex market, the US dollar fell to a six-week low against a basket of major currencies in response to labor market data. The euro gained roughly one percent against the US dollar shortly after 21:40 CET to 1.0730 EUR/USD.
“This confirms the view that the Fed should not raise interest rates again,” said analyst Ronald Temple from Lazard about the data on the labor market. Weak data on the development of activity in the US service sector in October also contributed to the fall of the US dollar.
The Fed left its key interest rate unchanged on Wednesday in a range of 5.25 to 5.50 percent, the highest level since 2001. It last raised it in late July.
Source: Reuters, ČTK, Lazard, AP
- The US House of Representatives approved 13.6 billion for Ukraine and Europe
As expected, the US House of Representatives approved an amount of 13.6 billion dollars (310 billion crowns) for humanitarian, military and economic aid to Ukraine and US allies in Europe. It is part of the federal budget for this year worth around 1.5 trillion dollars. The US Senate will now decide on the package, which also includes money for the countries receiving the most Ukrainian refugees.
- The American company Instacart is heading to the stock exchange, it wants to raise up to 616 million dollars
The American company Instacart, which operates food delivery, intends to raise up to 616 million dollars (roughly CZK 14 billion) as part of its upcoming IPO. The company announced today that it will offer 22 million shares to investors at a price of $26 to $28 each. The transaction could thus value the entire enterprise at up to $7.7 billion.
- The American SVB went bankrupt, it is the biggest bank failure in the USA since 2008
California banking regulators have shut down SVB Financial Group, the parent company of Silicon Valley Bank. The collapse of SVB is the largest bank failure in the US since the height of the financial crisis in 2008, the AP reported. The Federal Deposit Insurance Corporation (FDIC) was appointed as administrator of the bank. She stated that the bank’s assets amount to USD 209 billion (CZK 4.6 trillion) and deposits to USD 175.4 billion.
- The US government is still out of money
Not even the fourth day of the emergency regime of the US government, which, due to the dispute over the form of the funding bill, does not have…
- The US government will re-evaluate the GDP calculation
The U.S. economy often shows a much slower pace in the first quarter, according to government data…
- The US government is stepping up its crackdown on Chinese internet companies
The US government is stepping up its crackdown on Chinese companies in the US digital space. Secretary of State Mike Pompeo presented the points of a project called the Clean Network, which is intended to prevent Chinese Internet applications and telecommunications companies from accessing sensitive data of American citizens and businesses, Reuters reports today. Pompeo’s announcement comes not long after US President Donald Trump threatened to ban the TikTok platform, which is run by Chinese company ByteDance.
- American and Chinese companies have signed agreements worth nine billion USD
American and Chinese companies signed almost two dozen agreements worth nine billion dollars (almost CZK 200 billion) during the visit of the President of the United States, Donald Trump, to Beijing. The agencies AP and AFP inform about it.
- U.S. stocks fell amid the wait for a deal on government spending
U.S. stocks fell on Monday as jitters gripped markets over a possible collapse of negotiations…
- US stocks unchanged, the market awaits the Fed
US stocks remained largely unchanged in the first half of today’s trading. Investors before deciding…
- US stocks firm sharply thanks to the report on the fall in inflation in the US
US stocks opened today’s trading with strong gains. The report on a surprisingly significant drop in inflation in the United States supported hopes that the American central bank (Fed) will slow down the rate of interest rate increases. The Dow Jones index, which includes shares of thirty leading American companies, gained roughly 2.3 percent shortly before 16:00 CET and was near 33,250 points.
- US stocks and the dollar rose sharply
US stock markets rallied today on the back of a surprise interest rate cut…
- US stocks and the dollar strengthened in October
Stock markets in the United States recorded their strongest rise in four years in October. All three…
- US stocks fell, the dollar strengthened
US stocks weakened significantly today, led by technology companies. Market sentiment was hit by the news of a January slowdown in the creation of new jobs in the United States. The technology market index Nasdaq Composite closed at the lowest level since October 2014.
- U.S. stocks fell on concerns about a dispute with China
US stocks fell today as the latest remarks by US President Donald Trump reignited concerns about the negative consequences of the trade conflict between Washington and Beijing.
- US stocks fell the most since 1987 due to the coronavirus
European shares weakened sharply yesterday and their main index was the lowest in almost four years. Airlines in particular fell very significantly. The announced ban on travel from Europe to the United States deepened investors’ fears about the negative effects of the new type of coronavirus on the economy.
- US stocks fall sharply due to the coronavirus
Stocks in the United States opened trading sharply lower, with the Dow Jones losing more than 800 points in the first minutes after the market opened. Investors are moving to safer investments than stocks. This is due to a sharp increase in the number of cases of the new coronavirus outside of China, which has raised concerns that the coronavirus will have a much more serious impact on global growth than previously expected.
- American stocks started with a decline due to bank failures, but erased most of the losses
US stocks started today’s trading with a decline due to the collapse of financial institutions Silicon Valley Bank (SVB) and Signature Bank. They later erased most of the losses, but trading is very volatile. The Dow Jones index, which includes shares of thirty leading American companies, hovered around 31,918 points shortly before 16:00 CET, which was very close to Friday’s close. Before that, it went down to 31,624.87 points.
- US stocks fell significantly due to concerns about the coronavirus
US stocks started the second quarter with a significant decline. They are pushed down by growing investor concerns about the effects of the spread of the coronavirus on the United States economy. The Dow Jones index, which includes shares of thirty leading American companies, lost 4.44 percent today and ended trading at 20,943.91 points. The broader S&P 500 index fell 4.41 percent to 2,470.50 points and the Nasdaq technology index also fell 4.41 percent to 7,360.58 points.
- US stocks have experienced their steepest decline since the crisis this year
US stocks this year suffered the steepest decline since 2008, when the economy was gripped by the financial crisis. The Dow Jones index, which includes shares of thirty leading American companies, closed today’s trading at 23,327.46 points, losing 5.6 percent since the beginning of the year.
- U.S. stocks have lost nine percent this year, according to the S&P 500
US stocks have lost nearly nine percent since the start of the year, according to the S&P 500 index. The German DAX index and the pan-European Euro Stoxx 50 lost more than 11 percent. London’s FTSE Index has fallen by 1.2 percent since the start of the year. Wood & Company analyst Filip Louženský told ČTK today. According to him, the whole of February was marked by the conflict in Ukraine, which flared up last week and affected markets all over the world. Because of this, they continued the January decline and mostly continued to fall.