NEW YORK (dpa-AFX) – The US stock markets started to recover strongly on Thursday after an easier start. Market observers cited weaker-than-expected labor market data from the private sector and order data from industry as reasons, which should calm investors somewhat with a view to the interest rate policy of the central bank (Fed). In addition, the oil alliance Opec+ will significantly increase its production volume in the summer. According to Andreas Lipkow, market expert at Comdirect, this can help to reduce inflation dynamics and ease the cost pressure on companies.
The most famous Wall Street index Dow Jones Industrial
ended up trading up 1.33 percent to 33,248.28 points. It closed just below the daily high it had just reached. The market-wide S&P 500
gained 1.84 percent to 4176.82 points. The Nasdaq 100 select index, known for its technology stocks
increased by 2.75 percent to 12,892.89 points. All three indices are now back at their highest level for almost a month
According to the employment service provider ADP, far fewer jobs were created in the US private sector than expected in May. In addition, the increase in orders in US industry in April fell short of the forecasts and the development in March was also weaker than initially forecast.
Expert Edward Moya from broker Oanda justified the fact that this news was driving the stock exchanges by saying that there were different opinions on the market regarding the recession forecasts and possible interest rate hike breaks by the Fed. “Hope for a less aggressive tightening campaign has risen after a slew of economic data suggested the economy is weakening and inflation cooling.”/ck/he
ISIN US2605661048 US6311011026 US78378X1072
AXC0363 2022-06-02/22:39
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