Photo = REUTERS
The New York Stock Market rose significantly, fueled by employment indicators released late last week and economic indicators released today.
The Dow Jones 30 Industrial Average and the Standard & Poor’s (S&P) 500 closed at all-time highs.
On the 5th (Eastern Time), the Dow Jones 30 Industrial Average on the New York Stock Exchange (NYSE) ended at 33,527.19, up 373.98 points (1.13%) from the battlefield.
The S&P500 index rose 58.04 points (1.44%) from the previous length to 4,077.91, while the technology stock-oriented NASDAQ index ended at 13,705.59, up 225.49 points (1.67%).
The S&P 500 index broke the 4,000 mark for the first time last week, and then again hit an all-time high on this day.
The Dow Index also ended at an all-time high.
The market watched the US employment indicators released earlier and the economic indicators released today.
The number of new employment in the non-agricultural sector in the United States in March was 916,000, far exceeding the estimated 675,000 of economists compiled by The Wall Street Journal.
New employment in March was the highest since August last year.
The March unemployment rate fell to 6.0% from 6.2% of the previous month.
As employment increased significantly in March, concerns over the Corona 19 pandemic were somewhat reduced.
As the US stock market closed on Good Friday on the 2nd, the stock market reflected the employment report late on this day.
Other economic indicators were also generally positive.
The final value of the service industry purchasing managers index (PMI) for March announced by Markit was 60.4, up from 59.8 last month.
This is the highest number since July 2014.
The service industry PMI for March announced by the Supply Management Association (ISM) was 63.7, significantly exceeding both the expert’s estimate of 59.2 and the previous 55.3, compiled by the Wall Street Journal (WSJ).
Following the manufacturing industry, the service industry has also improved significantly, raising expectations for an economic recovery.
The March New York City Business Condition Index, which shows the business environment of New York City, rose 1.7 points from 35.5 last month to 37.2, and the March US Employment Trend Index (ETI) released by the Conference Board also rose from 100.01 of the previous month to 102.44.
However, orders for factory materials in February, announced by the US Department of Commerce, declined 0.8%, returning to a decline in 10 months.
Although the March indicator is turning positively, concerns about the fourth coronavirus outbreak remain.
In an interview with NBC News the previous day, Michael Osterhome, director of the University of Minnesota’s Infectious Disease Research Policy Office, pointed out that there were 8,400 new cases a day in Michigan. It’s the same.”
On average in the United States, the number of new confirmed cases per day for a week is about 63,000, raising concerns about reproliferation.
Although the spread of vaccines is on the rise, this is attributed to an increasing number of floating populations as the weather warms.
It is encouraging that the speed of vaccination against Corona 19 is increasing.
According to vaccine follow-up data from the Centers for Disease Control and Prevention (CDC), 16.2 million Americans received the vaccine at least once.
It accounts for 32% of the total population.
Meanwhile, US Treasury Secretary Janet Yellen said in a speech at the Chicago Council on International Affairs (CCGA) that it is working with 20 major countries (G20) to set a lower limit on each country’s corporate tax rate.
Yelan’s remarks came as President Joe Biden pushed for legislation to raise the current 21% corporate tax rate in the United States to 28%.
It is interpreted as a means of strengthening international cooperation to prevent fears that companies will leak overseas due to the increase in corporate tax rates.
By industry, discretionary consumer goods, communication services, and technology-related stocks rose more than 2%, while essential consumer goods, industrial and material stocks also rose more than 1%.
As international oil prices fell more than 4% on the day, energy-related stocks were pushed back by 2.4%.
Tesla’s stock price rose more than 4% in the first quarter as vehicle delivery performance exceeded expectations, and GameStop’s stock price ended down 2% on news of a $1 billion increase.
Norwegian Cruises, a cruise ship, surged 7.4% on news that it sent a letter to the US authorities requesting to resume operations from July, and the share price of another cruise ship Carnival also rose 5.8%.
New York stock market experts diagnosed that the indicators are coming out positively as the economy reopens, and related deals are also showing good shape.
“Undoubtedly, the economic resumption deal remains in good shape,” said Hans Olsen, Chief Investment Officer of Fiduciary Trust.
According to the Chicago Merchandise Exchange (CME) Fed Watch, the Federal Fund (FF) interest rate futures market reflects the possibility of a 25bp base rate hike in September by 4.5%.
On the Chicago Options Exchange (CBOE), the volatility index (VIX) rose 0.58 points (3.35%) from the battlefield to 17.91.
/yunhap news