Thursday, May 27, 2021
Lose bitcoin and gold
Dow Jones benefits from positive US job market
The US job market is opening up more and more because of the vaccination effort – and Wall Street is responding. Because of the more positive outlook, the gold price is losing, and Bitcoin is also falling. The winners are aircraft manufacturer Boeing and supplier GE.
Advances in the US labor market have pleased investors on Wall Street. In addition, the “New York Times” reported, citing its documents, that US President Joe Biden will propose a six trillion dollar budget on Friday. The budget is intended to strengthen education, health care and infrastructure in the country.
The Dow Jones Index the standard value closed 0.4 percent higher to 34,464 points. The technology-heavy one Nasdaq noted hardly changed at 13,736 points. The broad one S&P 500 gained 0.1 percent to 4200 points.
At 406,000, the number of weekly initial jobless claims was lower than expected and the lowest it has been since the pandemic began. Lifted pandemic restrictions and vaccinations against Covid-19 for more than half of adults increased the need for workers in factories, restaurants and construction sites.
After the recent price crashes, it stayed for Bitcoin-Investors volatile. The cyber currency traded 1.3 percent lower at $ 38,776. China had scared investors off with the prospect of stricter regulation in the cryptocurrency sector.
Boing the winner
At the top of the Dow are the papers of the aircraft manufacturer Boeing with an increase of 3.9 percent. The course was pulled up by the production plans of the European rival Airbus. With a view to a recovery from the corona pandemic, he wants to expand production vigorously. Suppliers General Electric (GE) climbed a good seven percent.
Car stocks were once again in the favor of investors above. General Motors (GM) gained 2.9 percent. The group is ramping up production in five plants that have previously been closed due to the shortage of chips. ford Motor added another seven percent to their very high previous day’s profits. Tesla advanced 1.9 percent.
Business was driven by the high demand for technology for data centers and graphics cards Nvidia also strong at the start of the new financial year. In the first quarter, sales and profit jumped significantly compared to the same period of the previous year. The course, however, did not benefit from this, it fell by 1.4 percent. The shares had already risen noticeably in the past few days, nearing their record highs reached in mid-April.
The Euro The bottom line was that she moved very little. After the US market closed, the common currency cost $ 1.2198. The European Central Bank (ECB) had set the reference rate at 1.2198 (Wednesday: 1.2229) dollars, so the dollar had cost 0.8198 (0.8177) euros. The futures contract for ten-year Treasuries (T-Note-Future) fell 0.11 percent to 131.84 points. The Ten year bond yield was 1.60 percent.
Gold loses
Because of the encouraging job data, the anti-crisis currency lost gold for investors in shine. The troy ounce of the precious metal fell 0.3 percent to $ 1,890.
In contrast, investors again coincided copper a. The industrial metal rose 2.6 percent to $ 10,242 per ton. Investors feared supply bottlenecks due to the threat of miners’ strike in Chile, an important export country. Also the Oil prices increased by around half a percent.
.