NEW YORK (dpa-AFX) – After the inconsistent price development on Wednesday, the US stock markets are likely to open on Thursday with a recovery. The rising oil prices and some unexpectedly good company figures are providing positive impetus. On the other hand, the weekly US labor market data have a dampening effect. The broker IG valued the Dow Jones Industrial (Dow Jones 30 Industrial) around three quarters of an hour before the start of trading, around 1.1 percent higher to 23,923 points. The day before, the Dow had fallen by just under a percent.
Oil prices continued their recovery on Thursday. The Saudi state-owned company Saudi Aramco (Aramco (Saudi-Aramco)) announced that it would reduce its price discounts for oil deliveries to Asia, among others, in order to support the price recovery. Market observers saw signs of increasing demand in the wake of the relaxation of the corona exit restrictions.
As a result of the corona pandemic, millions of people in the USA again applied for unemployment benefits for the first time. In the week up to May 2, around 3.2 million new applications were registered, while economists had reckoned with 3.0 million. In the six weeks before, 30.2 million people had submitted such an application – more than ever before in such a short time. That means that more than 33 million people in the United States have lost their jobs since mid-March.
The PayPal shares (PayPal) rose in the pre-market trading by a whopping 10 percent. The online payment service suffered a slump in profits in the first quarter and increased the provisions for loan losses. However, revenues increased by 12 percent. In addition, PayPal announced even stronger growth for the current quarter.
The armaments, aviation and technology group Raytheon Technologies, formed from Raytheon and parts of the industrial group United Technologies, does not dare to look ahead to the year because of the corona crisis. Since the new group was only merged at the beginning of April, the company presented quarterly figures for United Technologies, including the Otis elevator division, which has now been spun off, and the Carrier air conditioning division. The shares rose 4.7 percent in the pre-trading period in view of higher than expected adjusted earnings per share.
Bristol-Myers Squibb stocks rose 2.1 percent early on. Sales and results of the pharmaceutical company in the first quarter had exceeded the average market expectations. In addition, the management is sticking to its outlook.
The quarterly figures of the competitor Teva (Teva Pharmaceutical Industries) were clearly better than forecast. Accordingly, the shares soared by more than 14 percent before the trading day./edh/mis
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/data/photo/2020/12/04/5fc9db8407d4f.jpg "Sahib, a company formed by the CT Consortium to Operate Patimban Port")