Daily Stock News Reports
  • Home
  • Stock Market
  • Business
  • Economy
  • Markets
  • Forex
  • Crypto
  • Politics
  • World
  • Investments
  • Gold&Silver
  • Banking
  • Technology
  • Real Estate
  • Energy
  • Home
  • Stock Market
  • Business
  • Economy
  • Markets
  • Forex
  • Crypto
  • Politics
  • World
  • Investments
  • Gold&Silver
  • Banking
  • Technology
  • Real Estate
  • Energy
No Result
View All Result
Daily Stock News Reports
No Result
View All Result
Home Stock Market

Wall Street jumps as historic job losses fewer than feared

May 9, 2020
in Stock Market
3 min read
Share on FacebookShare on Twitter
© Reuters. The spread of the coronavirus disease (COVID-19) in New York
© Reuters. The spread of the coronavirus disease (COVID-19) in New York

By Lewis Krauskopf

(Reuters) – Major U.S. stock indexes jumped on Friday and logged solid gains for the week after data on historic job losses due to the coronavirus crisis showed they were slightly fewer than feared.

All 11 S&P 500 sectors were positive, led by the beaten-up energy group (), which gained 4.3%.

A 2.4% gain in Apple (O:) shares also lifted the indexes after the iPhone maker said it will reopen a handful of U.S. stores starting next week.

The U.S. economy lost 20.5 million jobs in April, the Labor Department reported. Economists polled by Reuters had forecast payrolls diving by 22 million, but the decline still marked the steepest plunge since the Great Depression.

“It’s tough to call the jobs report, which is what everybody was waiting for, anything but a complete calamity, but relative to expectations you can see some silver linings in there,” said Brian Nick, chief investment strategist at Nuveen, pointing to the large number of temporary layoffs.

“Except for the initial panic in the month of March, in general the markets are ignoring economic data for the most part and are looking more at data related to COVID-19,” Nick said.

The Dow Jones Industrial Average () rose 455.43 points, or 1.91%, to 24,331.32, the S&P 500 () gained 48.61 points, or 1.69%, to 2,929.8 and the Nasdaq Composite () added 141.66 points, or 1.58%, to 9,121.32.

The Nasdaq posted its fifth straight daily gain, its longest such streak since December 2019.

The Cboe Volatility Index (), known as Wall Street’s fear gauge, fell 3.46 points to 27.98, its first close below 30 since Feb. 26.

Financial markets on Thursday began pricing in a negative U.S. interest rate environment for the first time, as investors grappled with the economic consequences of the new coronavirus outbreak.

Stocks have staged a sharp rebound since late March from the coronavirus-fueled sell-off, helped by massive monetary and fiscal stimulus. The tech-heavy Nasdaq on Thursday erased its 2020 declines and turned positive for the year.

Investors are now watching efforts by a number of states to spark their economies by easing restrictions put in place to fight the outbreak.

“People are watching closely to just see how this reopening process works,” said Keith Lerner, chief market strategist at Truist/SunTrust Advisory Services.

“On the margin, you are starting to hear businesses say that things are starting to look better from a depressed level.”

Optimism for markets was also fed by news that U.S. and Chinese trade representatives discussed their Phase 1 trade deal, with China saying they agreed to improve the atmosphere for its implementation.

In company news, Uber Technologies (N:) shares rose 6.0% after the company said ride service bookings slowly recovered in recent weeks.

Noble Energy (O:) shares gained 13.5% after the company said on Friday it would curtail oil production and further cut its capital spending to cope with a plunge in oil prices.

Advancing issues outnumbered declining ones on the NYSE by a 4.95-to-1 ratio; on Nasdaq, a 3.47-to-1 ratio favored advancers.

The S&P 500 posted 11 new 52-week highs and no new lows; the Nasdaq Composite recorded 64 new highs and three new lows.

About 10.1 billion shares changed hands in U.S. exchanges, below the 11.4 billion daily average over the last 20 sessions.

Published at Fri, 08 May 2020 22:05:26 +0000-Wall Street jumps as historic job losses fewer than feared

Previous Post

Union opposes reopening U.S. meat plants as more workers die

Next Post

U.S. stocks higher at close of trade; Dow Jones Industrial Average up 1.91%

Related Posts

INDIAN ENERGY EXCHANGE  Share Price Up by 5%; BSE POWER Index Down 0.9%
Stock Market

INDIAN ENERGY EXCHANGE Share Price Up by 5%; BSE POWER Index Down 0.9%

by Stock News
January 27, 2021
0

Wed, 27 Jan 03:24 PM INDIAN ENERGY EXCHANGE share price has zoomed 5% and is presently trading at Rs 245....

Read more
INDIAN ENERGY EXCHANGE  Share Price Up by 5%; BSE POWER Index Down 0.9%
Stock Market

INDIAN ENERGY EXCHANGE Share Price Up by 5%; BSE POWER Index Down 0.9%

by Stock News
January 27, 2021
0

Wed, 27 Jan 03:24 PM INDIAN ENERGY EXCHANGE share price has zoomed 5% and is presently trading at Rs 245....

Read more
MRPL Share Price Down by 5%; BSE OIL & GAS Index Down 2.1%
Stock Market

MRPL Share Price Down by 5%; BSE OIL & GAS Index Down 2.1%

by Stock News
January 27, 2021
0

Wed, 27 Jan 03:26 PM MRPL share price has plunged 5% and is presently trading at Rs 37. Meanwhile, the...

Read more
MRPL Share Price Down by 5%; BSE OIL & GAS Index Down 2.1%
Stock Market

MRPL Share Price Down by 5%; BSE OIL & GAS Index Down 2.1%

by Stock News
January 27, 2021
0

Wed, 27 Jan 03:26 PM MRPL share price has plunged 5% and is presently trading at Rs 37. Meanwhile, the...

Read more
5 Reasons Why Sensex and Nifty Plunged 2% Today
Stock Market

5 Reasons Why Sensex and Nifty Plunged 2% Today

by Stock News
January 27, 2021
0

Indian share markets witnessed heavy selling pressure today despite the US administration saying it would bring a stimulus package even...

Read more
‘India’s agri laws have potential to raise farm income’
Stock Market

‘India’s agri laws have potential to raise farm income’

by Stock News
January 27, 2021
0

WASHINGTON: India's recently-enacted agri laws have the potential to increase farmers' income, but there is a need to provide a...

Read more
Next Post
U.S. stocks higher at close of trade; Dow Jones Industrial Average up 1.91%

U.S. stocks higher at close of trade; Dow Jones Industrial Average up 1.91%

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stock Market

  • Trending
  • Comments
  • Latest
Silver Price Analysis: Attempts recovery inside weekly falling channel

Sensex Ends 364 Points Higher; Banking and Finance Stocks Witness Buying

August 25, 2020
Tesla accuses electric truck maker Nikola of stealing design

Tesla accuses electric truck maker Nikola of stealing design

September 25, 2020
New York AG seeks testimony of Eric Trump in Trump Organization probe

New York AG seeks testimony of Eric Trump in Trump Organization probe

August 25, 2020
Catenae Innovation: Primed for the new COVID reality

Catenae Innovation: Primed for the new COVID reality

May 9, 2020
Monzo founder quits challenger bank because of mental health issues

Monzo founder quits challenger bank because of mental health issues

0
Wall Street jumps as historic job losses fewer than feared

Wall Street jumps as historic job losses fewer than feared

0
U.S. stocks higher at close of trade; Dow Jones Industrial Average up 1.91%

U.S. stocks higher at close of trade; Dow Jones Industrial Average up 1.91%

0
Lockdown not to be counted for determining residency status of NRIs: CBDT

Lockdown not to be counted for determining residency status of NRIs: CBDT

0
Monzo founder quits challenger bank because of mental health issues

Monzo founder quits challenger bank because of mental health issues

January 27, 2021
Buy StanChart not HSBC as emerging markets outperform UK, says Morgan Stanley

Buy StanChart not HSBC as emerging markets outperform UK, says Morgan Stanley

January 27, 2021
VSA Capital expect ‘record year’ and says 2021 will be the year for IPO and M&A activity

VSA Capital expect ‘record year’ and says 2021 will be the year for IPO and M&A activity

January 27, 2021
VSA Capital expect ‘record year’ and says 2021 will be the year for IPO and M&A activity

VSA Capital expect ‘record year’ and says 2021 will be the year for IPO and M&A activity

January 27, 2021

Stock News

Monzo founder quits challenger bank because of mental health issues

Monzo founder quits challenger bank because of mental health issues

January 27, 2021
Buy StanChart not HSBC as emerging markets outperform UK, says Morgan Stanley

Buy StanChart not HSBC as emerging markets outperform UK, says Morgan Stanley

January 27, 2021
VSA Capital expect ‘record year’ and says 2021 will be the year for IPO and M&A activity

VSA Capital expect ‘record year’ and says 2021 will be the year for IPO and M&A activity

January 27, 2021
VSA Capital expect ‘record year’ and says 2021 will be the year for IPO and M&A activity

VSA Capital expect ‘record year’ and says 2021 will be the year for IPO and M&A activity

January 27, 2021
Anglo Asian Mining say ‘everything is running smoothly’ with plans to pay special dividend in March

Anglo Asian Mining say ‘everything is running smoothly’ with plans to pay special dividend in March

January 27, 2021
Anglo Asian Mining say ‘everything is running smoothly’ with plans to pay special dividend in March

Anglo Asian Mining say ‘everything is running smoothly’ with plans to pay special dividend in March

January 27, 2021
AEX Gold announces appointment of Jaco Crouse as its chief financial officer with immediate effect

AEX Gold announces appointment of Jaco Crouse as its chief financial officer with immediate effect

January 27, 2021
AEX Gold announces appointment of Jaco Crouse as its chief financial officer with immediate effect

AEX Gold announces appointment of Jaco Crouse as its chief financial officer with immediate effect

January 27, 2021
  • Contact
  • Privacy Policy
  • Cookie Privacy

© 2020 NewsofStock.com

No Result
View All Result
  • Home
  • Stock Market
  • Business
  • Economy
  • Markets
  • Forex
  • Crypto
  • Politics
  • World
  • Investments
  • Gold&Silver
  • Banking
  • Technology
  • Real Estate
  • Energy

© 2020 NewsofStock.com