NEW YORK (dpa-AFX) – The US stock exchanges have continued their recovery course from the previous day with momentum. The weekly labor market data released prior to the start of trading on Thursday was very robust. Most of all, there was relief that a temporary deal had been reached in the dispute between Democrats and Republicans over the debt ceiling. The impending default by the US government with potentially catastrophic economic consequences should thus have been averted for the time being.
Der Dow Jones Industrial
On Wednesday, the US stock exchanges managed to stop their initially steep decline and finally turn the early losses into profits. It was triggered by statements by Russian President Vladimir Putin and the leading Republican in the US Senate, Mitch McConnell. Putin wants to help stabilize the energy markets through gas deliveries, which would also indirectly reduce the demand for crude oil. McConnell had suggested to the Democrats, among other things, not to block an emergency increase in the debt limit until December, which has now been agreed. This would at least postpone the risk of the world’s largest economy defaulting.
On the data side, the weekly initial jobless claims were convincing and surprisingly fell significantly. The government’s labor market report for September will be released this Friday. It is considered an important indicator for the further monetary policy of the central bank, which is feared that it could raise interest rates faster than the stockbrokers would like.
On the company side, the papers of corona vaccine manufacturers came into focus, which had clearly left feathers in the past eight weeks. Biontech
Levi Strauss’ shares were also up 8.9 percent
ISIN US2605661048 US6311011026 US78378X1072
AXC0323 2021-10-07/19:55
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