A disappointing job report helped the US stock markets on Friday. After initially the technology stocks, which had been rather weak recently, had benefited, their price gains and those of the standard value indices converged – the latter made it to record highs again. According to experts, an imminent tightening of US monetary policy is off the table for now. Higher interest rates make stocks less attractive than fixed-income investments such as bonds. Apparently, this outweighed concerns for investors that the world’s largest economy could stutter as the engine of the economy.
The Nasdaq 100 selection index won on the Nasdaq technology exchange
The increase in jobs in the US economy remained well below expectations in April. In addition, the development in the previous month was subsequently corrected downwards. The unemployment rate also rose slightly in April, while analysts had expected a decline. After all, hourly wages increased significantly – stagnation was expected here.
Analysts were disappointed with the figures, but commented cautiously. It is difficult to assess how much weight the report should be given at a time when many other indicators were pointing to a rapid economic recovery, according to the analysis house Capital Economics. Meanwhile, Thomas Gitzel, chief economist at VP Bank, expects “an even more significant increase in new positions” in the coming months. The US economy is growing rapidly now as the national vaccination program is taking effect and the government is providing significant funding.
Even before the labor market report, the prospect of an economic improvement had pushed the copper price to a record high. The supply can hardly keep up with the rapidly increasing demand, especially from China. The shares of the copper and gold producer Freeport-McMoRan
The roller coaster ride on the papers of the corona vaccine manufacturers continued. On Friday, they benefited from the German government’s stance against a patent release for Covid-19 vaccines: the depository receipts listed in New York for the German manufacturer Biontech
recovered by almost nine and a half and almost seven percent, respectively. The recently also weak shares of the US competitor Moderna
Nike-Papiere
Nikola shareholders
The emerging fitness equipment supplier Peloton
Meanwhile, expects the widespread recall of its treadmills to have manageable financial consequences. In the current quarter sales will decrease by a total of 165 million dollars, according to CFO Jill Woodworth. However, this only gave a temporary boost to the last hit stocks: They closed almost unchanged
Beyond Meat
The Euro
US government bonds were also supported by the job data: The futures contract for ten-year Treasuries (T-Note Future) rose 0.14 percent to 132.77 points. The yield on ten-year bonds fell accordingly to 1.57 percent./gl/he
— By Gerold Löhle, dpa-AFX —
ISIN US2605661048 US6311011026 US78378X1072
AXC0345 2021-05-07/22:38
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