Stock prices on Wall Street on Thursday, October 1, rose as markets weighed on various economic data and continued talks over the US economic stimulus package, while oil prices fell amid worries about weak demand.
Investors got acquainted with various economic data before the US employment data is expected to be published on Friday, which will be the last before the US presidential election on November 3.
Among those released on Thursday were data from the U.S. Department of Employment that the number of new claims for unemployment benefits in the U.S. fell 36,000 last week, marking a faster-than-expected decline.
The number of requests in the United States fell to 837,000 last week, compared to 873,000 last week. Analysts had predicted that the number of new claims for unemployment benefits would fall to 850,000 last week, up from 870,000 initially estimated in previous weeks.
Car builders, including General Motors U.S. car sales in the third quarter have shrunk less than expected.
However, data released by the US Department of Commerce showed that US incomes fell 2.7% in August, following a 0.5% increase in July. Analysts had predicted a 2.5% drop in household income.
“The huge drop in household income is a warning that the economy is still heavily dependent on government social benefits payments,” said economist Joel Naroff.
Negotiations between US Treasury Secretary Steven Mnuchin and House Speaker Nancy Pelosi on the economic stimulus package continued, but it was reported that they were nearing reaching an agreement.
There is little time left to conclude such an agreement, as the White House administration plans to go on vacation at the end of the week.
In Europe, the London and Paris stock exchange indices rose slightly, while the Frankfurt stock exchange index fell as the company fell Bayer the share price following its notification of new cost reduction measures.
World oil prices fell by more than 3% due to high supply and low demand.
US stock index Dow Jones Industrial Average on Thursday rose 0.1% to 27,816.90 points, the index Standard & Poor’s 500 rose 0.5% to 3380.80 points, while the index Nasdaq Composite increased by 1.4% to 11,326.51 points.
The London Stock Exchange index FTSE 100 rose 0.2% to 5879.45 points on Thursday, the Frankfurt stock exchange index DAX 30 fell 0.2% to 12,730.70 points, while the Paris stock exchange index CAC 40 rose 0.4% to 4824 .04 points.
In the e-commerce of the New York Stock Exchange, the price of WTI crude oil fell by 3.8% on October 1 to USD 38.72 per barrel. Brent The price of crude oil on the London Stock Exchange fell by 3.2% to $ 39.92 per barrel.
The euro rose from 1.1721 to 1.1745 dollars per euro on Thursday, the British pound fell against the US dollar from 1.2920 to 1.2893 dollars per pound, and the US dollar rose from 105.48 against the Japanese yen. to 105.50 yen per dollar. The value of the euro against the British pound rose from 90.72 to 91.16 pence per euro.
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