Data showed a steady recovery in the U.S. job market, with first-time jobless claims falling more than expected last week and the outbreak falling to less than 500,000 for the first time in more than a year; the market is optimistic that the non-farm payrolls report to be released this Friday will show an increase of 1 million in non-farm payrolls in April. The Dow hit a record high for the second consecutive day.
Although Dallas Fed President Kaplan released a hawkish signal, insisting that the Fed began discussing the reduction of QE sooner rather than later, and Wednesday’s statement of a number of senior Fed officials sang the opposite, but Germany opposed the U.S. plan to exempt the new crown vaccine patent protection, because the plan under pressure downward technology stocks rebounded during the day, pushing the S&P and the Nasdaq turned up, the Nasdaq had turned down again at lunchtime, until the end of the day to lock the momentum of the closing gains, successfully reversed a four-day losing streak.
There are comments that rising commodity prices, shortages of chips and shipping resources are worrying the stock market.
Among the commodities, the black sector was the standout performer on Thursday, with both domestic and foreign iron ore futures reaching record highs, and domestic steel prices also reaching record highs. Copper and other non-ferrous metals also rose, with copper one step away from a record high after standing at $10,000. Bank of America’s new projection that copper prices could rise to $20,000 by 2025 warns that the copper supply gap continues to widen and that copper could be depleted within three years. In addition, Shanghai aluminum hit a more than 11-year high, spurred by supply concerns stemming from China-Australia relations.
U.S. bond yields continued to move lower as the yield curve flattened for the fifth straight day after several Fed officials reiterated their dovish stance on Wednesday. Gold rose strongly on the back of a weaker dollar and falling bond yields. The “black gold” crude oil failed to retain its gains, after Saudi Arabia cut the selling price of crude oil exports to Asia due to the severe epidemic in India, the market re-weighed the outlook for oil demand, the end of a series of daily gains, temporarily leaving more than seven weeks of highs, nearly holding $ 68, U.S. oil closed lower for two consecutive days.
In European markets, the Bank of England held its ground, saying it would slow the pace of weekly bond purchases, but stressed that it was not changing its accommodative monetary policy stance and was optimistic about the domestic economic recovery. The United Kingdom and other major European countries continue to rise, but the UK ticket ordering site Trainline heavy fall dragged down the travel and leisure sector, the pan-European stock index fell more than two weeks high, the food sector led by the wine giant Budweiser’s positive results and shares rose sharply to support the market.
The Dow closed up more than 300 points for the first time in two weeks, the S&P hit the second highest leading technology stocks only Tesla fell
The three major U.S. stock indexes performed differently, with the Dow Jones Industrial Average performing the best, only having fallen briefly in early trading, and remaining up for most of the rest of the day. The S&P 500 opened slightly higher by less than 2 points and turned lower at the beginning of the session, down nearly 0.5% in early trading when it set a new daily low. The Nasdaq Composite opened 0.18% lower, down 1% in early trading when it hit a new intraday low since April 1.
The S&P and Nasdaq turned higher at the end of the morning session after Merkel said she opposed the Biden administration’s abandonment of patent protection for the new crown vaccine, with the Dow extending its gains to more than 200 points and the S&P retaining its gains thereafter, but the Nasdaq has since turned lower again.
The three major indices collectively pulled up and set new daily highs at the end of the session, the Nasdaq finally turned up, the Dow hit a new intraday high for the second consecutive day, the maximum intraday gain of more than 330 points, and the S&P expanded to more than 0.8%.
In the end, the three major indices closed up collectively for the first time in the last five trading days. The Nasdaq closed up 0.37% at 13632.84 points, ending a four-day losing streak, out of the lowest closing valley since April 1, which was set for three consecutive days as of Wednesday. Dow closed up 318.19 points, or 0.93%, at 34,548.53 points, closing up for four consecutive days, and two consecutive days of record closing highs, the largest closing gain since April 21, the first time since April 21 closed up more than 300 points. The S&P closed up 0.82% at 4201.62 points, up for two consecutive days, closing second only to the highest closing level set on April 29, and the largest closing gain since April 23.
Dow components, Cisco, Goldman Sachs, IBM rose more than 2%, JPMorgan Chase rose nearly 2%, Home Depot, Dow Chemical, Microsoft, Apple, Procter & Gamble, Honeywell, Intel and others were up more than 1%; while Pfizer fell nearly 2%.
In addition to Tesla, most of Wednesday’s decline in leading technology stocks rebounded collectively on Thursday. FAANMG six major technology stocks, in addition to Nifty, all turned up at the end of the morning session, and has since maintained the upward trend Apple, Facebook, Amazon, Microsoft rose more than 1%, Google parent company Alphabet rose nearly 1%, Nifty turned up at the end of the session, closing up 0.7%. Tesla had risen 1.5% at the beginning of the session, and then quickly turned down to close down more than 1%.
Gold stocks rose collectively, with Barrick Gold up 5.8% and Silver Mining Shares ETF up 5%.
New crown vaccine concept Moderna continued to fall, closing down more than 1%, but the decline was significantly moderated from more than 6% on Wednesday. competing vaccine developers Pfizer and BioNTech both fell, with BioNTech down more than 1%.
Beyond Meat, the No. 1 artificial meat stock that closed down more than 2%, reported a higher-than-market-expected first-quarter loss and lower-than-expected revenue after the bell, and Beyond Meat shares fell 11% at one point.
In Europe, British, French, German, Italian and Western stocks all closed higher for the second day in a row, while the pan-European stock index, which just rallied on Wednesday, closed slightly lower. Trainline, the U.K. train and bus ticket ordering site, fell more than 6.9 percent, dragging the travel and leisure sector down nearly 1.7 percent, leading the decline among sectors. And shares of Budweiser, which reported higher-than-expected first-quarter earnings, rose more than 5 percent, pushing the food and beverage sector up more than 0.8 percent, leading among the gainers.
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