NEW YORK (Dow Jones) – Farther up went on Wall Street on Friday. Labor market data for April, which is expected to be of concern, has not turned out as bad as feared. There were also friendly signals from the US-China trade dispute. The Dow Jones index gained 1.9 percent to 24,331 points. The S&P 500 index rose 1.7 percent and the Nasdaq composite gained 1.6 percent. The 2,109 (Wednesday: 910) winners on the NYSE were matched by 828 (2,029) losers. 52 (67) shares closed unchanged.
The Dow Jones index rose 1.6 percent to 24,256 points. The S & P-500 and the Nasdaq composite each win 1.4 percent. The 2,447 (Thursday: 2,109) course winners on the NYSE were only 515 (828) losers. 49 (52) shares closed unchanged.
The number of non-agricultural workers in the United States decreased 20.5 million last month. Economists had estimated the decline to be 21.5 million. The unemployment rate jumped to 14.7 percent – the highest level since records began in 1948. Here, economists had expected 16 percent after the rate had been 4.4 percent in March. The fact that the market reaction was not more euphoric was due to the indications of the job data from Wednesday and Thursday, which had already shown slight glimmers of hope.
Harmony between China and the USA lures investors out of cover
Meanwhile, the coronavirus crisis was beginning to lose some of its horror among investors as many countries are loosening the restrictions they had put in place to contain the pandemic. It was also noted with relief that the trade war between China and the United States does not seem to be going up again for the time being. Both sides have committed to pushing ahead with the agreements made in January.
The reawakened appetite for risk among investors led to the withdrawal from safe haven currencies such as the yen. The dollar also fell slightly. The dollar index lost 0.1 percent.
Investors also pulled out of the bond market. Falling prices caused the ten-year return to rise by 3.4 basis points to 0.67 percent. Also gold was not asked. The troy ounce fell 0.7 percent to $ 1,707.
Oil prices rose somewhat with labor market data. The price of a barrel of US crude oil of the WTI variety rose by 4.5 percent to 24.61, Brent oil rose by 4.8 percent to $ 30.86. Here, according to information from the retail sector, there was renewed hope that demand would increase as the economy revved up. China and the United States’ adherence to the phase 1 trade agreement also contributed to the positive mood.
Uber asked – Tripadvisor under pressure
Among the individual values, Uber rose by 5.9 percent. The agency brokered weaker-than-expected results in the first quarter, but reported a rise in bookings in large cities and, according to its CEO, is preparing for a recovery scenario.
Tripadvisor is less optimistic. The operator of the tourism website of the same name suffered from the coronavirus pandemic like Uber in the first quarter and therefore plans to fire 22 percent of its employees. The stock fell 4.3 percent.
News Corp was 13 percent more expensive. The media group posted deep red numbers in the third quarter due to depreciation and restructuring costs, and sales fell noticeably in the three months to the end of March. But he saw a sharp increase in subscriber numbers for the Wall Street Journal.
Apple won 2.1 percent. The iPhone company will reopen a small number of stores in the four US states next week.
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INDEX last +/-% absolute +/-% YTD
DJIA 24,331.32 1.91 455.43 -14.74
S & P-500 2,929.80 1.69 48.61 -9.32
Nasdaq Comp. 9,121.32 1.58 141.66 1.66
Nasdaq-100 9,220.35 1.30 118.48 5.58
US bonds
Maturity Yield Bp to VT Yield VT +/- Bp YTD
2 years 0.14 2.0 0.13 -105.7
5 years 0.31 1.6 0.29 -161.4
7 years 0.52 2.4 0.49 -173.2
10 years 0.67 3.4 0.64 -177.3
30 years 1.38 4.4 1.33 -169.1
CURRENCIES last +/-% Fri, 8:33 Thu, 17:30% YTD
EUR / USD 1.0837 + 0.06% 1.0844 1.0790 -3.4%
EUR / JPY 115.65 + 0.45% 115.41 114.90 -5.1%
EUR / CHF 1.0523 -0.17% 1.0541 1.0537 -3.1%
EUR / GBP 0.8735 -0.29% 0.8749 0.8767 + 3.2%
USD / JPY 106.72 + 0.41% 106.36 106.49 -1.9%
GBP / USD 1.2405 + 0.35% 1.2394 1.2308 -6.4%
USD / CNH (offshore) 7.0970 + 0.05% 7.0895 7.1054 + 1.9%
Bitcoin
BTC / USD 9,947.76 + 0.64% 9,908.51 9,487.76 + 38.0%
ROHOEL last VT-Settl. +/-% +/- USD% YTD
WTI / Nymex 24.61 23.55 + 4.5% 1.06 -58.6%
Brent / ICE 30.86 29.46 + 4.8% 1.40 -51.4%
METALLE last day before +/-% +/- USD% YTD
Gold (spot) 1,706.59 1,717.45 -0.6% -10.87 + 12.5%
Silver (spot) 15.50 15.55 -0.3% -0.05 -13.2%
Platinum (spot) 771.25 767.75 + 0.5% +3.50 -20.1%
Copper future 2.40 2.39 + 0.6% +0.01 -14.6%
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DJG / raz
(END) Dow Jones Newswires
May 08, 2020 16:15 ET (20:15 GMT)
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