US stock market gains
Investors on Wall Street digest jobs data
04/01/2022, 10:45 p.m
Unemployment continued to fall in March, employment continued to rise – a look at the US job market points to a recovery course. The US index Dow Jones closes in positive territory at the beginning of April.
US stock markets have been largely directionless. They fluctuated between modest gains and losses and then exited the trade on a positive note. Robust data from the labor market for the month of March supported. At the same time, the surprising downturn in the mood in industry weighed on investors’ mood.
After one for the Dow Jones Industrial After a very weak first quarter, the leading US index rose by 0.40 percent to 34,818.27 points at the start of April. The Wall Street Index weakened slightly over the course of the week. the S&P 500 advanced 0.34 percent to 4545.86 points on Friday. the Nasdaq 100 rose by 0.15 percent to 14,861.21 points.
A look at the US labor market also pointed to a recovery course for March: Unemployment continued to fall and is rapidly approaching the level it was before the corona pandemic. Employment continued to rise, albeit at a slightly slower pace than analysts had expected. Helaba’s experts spoke of a “robust constitution”. The US Federal Reserve (Fed) is likely to worry about the further increase in wages, as it could fuel the already very high inflation.
The ISM purchasing managers’ index for US manufacturing fell to 57.1 in March compared to February, while analysts had averaged expectations for a rise. However, a value above 50 still signals growing corporate activity. Rather, some stockbrokers were concerned that there had been a sharp decline in the assessment of incoming orders.
Apple stocks falter
On the company side, the shares of the Telekom company were in the Dow towards the end of trading Verizon with plus 2.3 percent at the top of the index. The papers of the chip manufacturer brought up the rear intel with minus 2.9 percent. However, there was no news.
Apple continued to weaken at minus 0.2 percent after their recent eleven-day rally. This brought the iPhone maker’s shares back close to their record high from early January. Now it went down again for the third day in a row. It may have been a burden that JPMorgan expert Samik Chatterjee also removed Apple from the “Analyst Focus List” in addition to Qualcomm, which fell by 3.8 percent.
For this he took on the papers of the communications network equipment suppliers Ciena and Arista. According to a recent study, he considers these two to be particularly resilient in a more difficult economic environment with regard to the expenses of telecom customers for their networks as well as cloud companies and their infrastructure development. Ciena increased by 0.7 percent and Arista by 0.4 percent.
Gamestop plans stock split
Outside of the major indices, the papers shot up among the individual stocks game stop Up 14 percent at the start of trading, but then ended the day 1.0 percent weaker. The retail chain for computer games is planning a stock split to make the currently $165 share more tradable and thus more interesting for small investors. However, the share is highly susceptible to fluctuations, as the year to date shows. After almost halving by mid-March, the paper climbed back up by a third over the course of this trading week alone.
the Euro was $1.1049 at the close on Wall Street after rallying as high as $1.1075 in early Frankfurt trade. The European Central Bank set the reference rate at 1.1052 (Thursday: 1.1101) dollars. the dollar cost 0.9048 (0.9008) euros.
On the US bond market, the futures contract for ten-year Treasuries (T-Note Future) fell by 0.55 percent to 122.20 points. The yield on ten-year government bonds rose to 2.39 percent.