Tue. Apr 23rd, 2019

Wall Street relies on employment and in China

Wall Street relies on employment and in China



Wall Street was supported today by the good news about employment that became known in the US, as well as, once again, the hopes that Washington and Beijing will be able to reach an agreement to reach the trade pact that they have months negotiating.

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The New York parquet managed to close its second consecutive week of accumulated earnings, with the S & P 500 and the Industrial Dow Jones advancing close to 2 percent from Monday, and even more for the Nasdaq, whose figure stood at 2.71 percent.

The financial sector and the commodities sector were the biggest beneficiaries of the week, rising 3.3 percent and 4.3 percent respectively, thanks to the push of, among others, Morgan Stanley, which appreciated more than 6 percent. , 40 percent in the last 5 days.

Investors were set today in the latest report on the labor situation in the US, which indicated that last March 196,000 jobs were created, compared to 175,000 predicted by experts, which was added a solid unemployment rate of 3.8 percent.

Wall Street waited anxiously this time to know the number of jobs created, since in February only 20,000 were added, which was then revised up to 33,000, which was still far below expectations.

"The unemployment rate is low, and that will cause consumer confidence to remain high, which is a very comfortable situation for investors," said AssetMark chief economist Jason Thomas.

Other analysts agreed with Thomas, who pointed out that the number of jobs created was excellent, "neither too high nor disappointing," according to the director of the department of macroeconomics at Smith Capital, Lindsay Bernum.

"It is in line with our vision that the US foundations are intact, we are not growing at the same pace as last year, but we have not been out of the competition either," Bernum added.

These good employment figures have left a particularly good taste as they are released days after disappointing economic data at the beginning of the week, as the activity of the country's service sector, which fell to August 2017 lows.

The New York parquet was also driven by the apparent progress in the negotiations on trade between the United States. and China, after affirming yesterday the American president, Donald Trump, that had progressed remarkably, whereas the vice premier of China, Liu He, said that a "new consensus" had been reached.

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