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US stocks rise after unemployment data


As a result of trading, the Dow Jones Industrial Average rose 139 points, or 0.4%, to 34462. The S&P 500 index rose 0.1%. The Nasdaq Composite was down less than 0.1%.

This week, stock indices are hovering amid easing concerns about a spike in inflation and after Fed officials said they could start discussing adjustments to asset purchase programs in the near future. Investors are closely monitoring indicators of economic activity to assess the likely timing of the withdrawal of monetary stimulus.

The number of initial applications for unemployment benefits last week was 406,000, a week earlier it was 444,000. It fell to a new low since the start of the pandemic due to further improvement in the labor market situation, and was even lower than analysts expected.

Durable goods orders fell 1.3% in April, while economists were mostly forecasting an upturn. US GDP for the 1st quarter, according to the second estimate, grew by 6.4%.

Investors are closely watching the stocks of companies that have become popular among online traders. AMC Entertainment shares up 50%. Stocks and GameStop hovered around the flat line.

Ford Motor shares added 5.7%. They are rising for the second day in a row after the company announced that 40% of its global car fleet should be fully electric by 2030. Dollar Tree shares fell 6.9%.

The yield on 10-year US Treasuries rose to 1.609% from 1.572% on Wednesday.

The pan-European Stoxx Europe 600 gained 0.3%.

In Asia, trading in shares ended with multidirectional dynamics. Shanghai Composite added 0.4%, Hang Seng dropped 0.2%.

The material has been provided by InstaForex Company -