[뉴욕증시 포커스] ‘Surge’ in the interest rate calming and the favorable employment index

[이코노믹리뷰=노성인 기자] The New York stock market surged in one day. Due to the flow of government bond yields, there was great volatility, such as a sharp drop in the beginning of the market and then soaring again during the week.

On the 3rd (local time) on the New York Stock Exchange (NYSE), the Dow Jones 30 Industrial Average rose 572.16 points (1.85%) from the previous trading day to 31,496.30. It fell more than 150 points during the week and then rebounded strongly. The Standard & Poor’s (S&P) 500 index closed at 3841.94, up 73.47 points (1.95%). The NASDAQ index ended at 12,920.15, up 196.68 points (1.55%). Although it plunged 2.6% during the intraday, it rebounded sharply due to the inflow of buying.

On this day, the market paid attention to the US Treasury bond interest rate trend and employment index. U.S. Treasury 10-year Treasury yields soared to 1.626% and were unstable, but they retreated and fell below 1.6%.

Strong employment also affected the stock market’s rise. According to the Ministry of Labor, the number of non-agricultural jobs increased by 379,000 last month. The largest increase since October last year. Dow Jones’ expert forecast (210,000 increase) also exceeded significantly. The unemployment rate also fell from 6.3% to 6.2%.

Most of the job growth last month came from the leisure and hospitality industry (355,000 increase). This is the part that was hit hardest by Corona 19. It was found that it employed 286,000 more people in restaurants and bars alone. As the Corona 19 vaccine spreads across the United States and the number of confirmed cases gradually decreases, interpretations are being made that if each state reopens the economy, jobs will gradually recover.

The federal reserve system (Fed, playing) also made a remark on the government bond interest rate. St. Louis Federal Reserve Governor James Bourd said, “The need to become more dove (preferably to ease monetary) is not right now.”

The Chicago Options Exchange Volatility Index (VIX), also known as the Wall Street Fear Index, fell 13.69% to 24.66.

On this day, 11 industries of the S&P500 rose all at once. Energy 3.87%, industry 2.39%, communication 2.37%, materials 2.35%, consumer staples 2.15%, health 2.02%, technology 1.97%.

In particular, energy stocks have jumped at the peak since November. Oil prices continued strong for two days in a row as Saudi Arabia’s’surprise’ extension of production cuts continued.