Volatile Trading: Dow Jones Ultimately Gains | message

—Despite new bad news from US job market it went up on Wall Street on Thursday. The Dow Jones started Thursday trading 0.59 percent lower at 20,819.46 points and then started looking for direction, but was able to establish itself in the profit zone in the evening. At the close, he posted a premium of 2.24 percent to 21,413.44 points.

The coronavirus pandemic, which is still widespread in the United States, remains unchanged, along with the uncertainty surrounding the extent of the economically negative consequences. Concerns about recession are growing, which is why current economic data is attracting a lot of attention. Initial jobless claims from last week rose to a record 6.65 million after the previous record of 3.28 million. The labor market situation is “catastrophic”, as Helaba analyst Ralf Umlauf wrote.

The labor market report for the entire month of March, which is due on Friday, is now being awaited with concern. Today there are also figures on incoming orders from industry and for durable goods from February.

The significant rise in oil prices provided some relief, as the US president said Donald Trump could draw a solution in the price war between Saudi Arabia and Russia. Trump had previously spoken to both sides. However, the Kremlin rejected US President Donald Trump’s statement that Russia and Saudi Arabia wanted to lower their oil production.

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