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Wall Street Benefits With Good Unemployment Data | Money

People can be seen on Wall Street outside the New York Stock Exchange (NYSE) in New York City, USA, on March 19, 2021. — Reuters pic

New York, October 14-The US stock index has begun today’s session, which is decisively high, after the government reports a significant drop in new claims for unemployment benefits.

According to the Ministry of Labor, new applications for unemployment benefits in the United States have fallen below 300,000 for the first time since Covid-19 surged to millions early last year.

The data helped investors suffering from the impact of the Delta variant.

This surpassed another government report showing that the US annual wholesale price rose 8.6% last month. This is the biggest rise in more than a decade, as inflation remains high nationwide.

Also, Wednesday’s minutes release from the Federal Reserve Board of Governance policy meeting last month shows that the central bank is probably ready to begin withdrawing stimulus measures in November.

“Stock market participants are seeing rebound opportunities,” said Patrick J. Adams of briefing.com after trading instability amid inflation and delta concerns in a recent session. Stated.

Approximately 45 minutes after the start of trading, the average of 30 Dow Jones Industrial Averages on the benchmark rose 1.2% to 34,777.49.

The broad S & P 500 rose 1.3% to 4,419.34, and the technology-rich Nasdaq Composite index rose 1.4% to 14,779.64.

Wells Fargo, Bank of America and Citigroup all reported profits, and positive earnings reports also boosted market profits.

Among individual companies, Boeing fell 1.4% after announcing the discovery of another flaw in the 787 Dreamliner Jet. This will require reworking of undelivered planes. — AFP

https://www.malaymail.com/news/money/2021/10/14/wall-street-gains-on-good-unemployment-data/2013449 Wall Street Benefits With Good Unemployment Data | Money

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