[ad_1]
Check-in 2021.02.05 07:05
On the 3rd (local time) on the New York Stock Exchange (NYSE), the Dow Jones 30 Industrial Average closed trading at 31,055.86, 332.26 points (0.18%) more than the previous day. The Standard & Poor’s (S&P) 500 index rose 41.57 points (1.09%) to close at 3,871.74, while the NASDAQ index oriented to technology stocks registered 167.20 points (1.23%) and 10,777, 74.
Investors saw better economic indicators and strong corporate performance.
The United States Department of Labor announced last week that the number of new claims for unemployment benefits was 779,000, the lowest since November last year. That’s well below the Wall Street Journal (WSJ) estimate of 830,000.
Additionally, the US Department of Commerce said in December last year that manufacturing orders were up 1.1%. This is well beyond the 0.7% increase in expert expectations.
On the 5th the employment report of the Ministry of Labor will be released. According to Reuters, experts forecast an increase of 50,000 jobs in the non-farm sector in January.
The good results also continued. Quarterly results for e-commerce company eBay and payment platform PayPal were significantly higher than expected due to overlapping demand for holiday shopping and the pandemic. On this day, eBay shares were up 5.3% and PayPal was up 7.4%. On the other hand, Qualcomm slumped 8.8% when announcing unpredictable results.
Arthur Hogan, Senior Market Strategist at National Security Scope, told Bloomberg: “Interest in (market) has definitely shifted to fundamentals. News related to the virus is improving and economic and performance indicators are showing some improvement. “.
GameStop, a video game retailer that recently attracted the attention of small investors, fell another 42% to $ 53.50. That’s one-tenth of last week’s high of $ 483.
This is interpreted as the result of US regulators showing signs of launching an investigation into GameStop. The Secretary of the Treasury of the United States, Janet Yellen, will meet this day with the heads of the regulatory authorities, such as the Securities and Exchange Commission, to discuss the situation of GameStop.
Expectations for the US administration’s economic stimulus plan are also good. The US House of Representatives passed a resolution to adjust the budget to allow the implementation of additional economic stimulus measures worth 1.9 trillion dollars (about 2.125 trillion KRW).
Gold and silver prices fell as the stock market strengthened.
On the same day at 4:10 p.m. ET, the New York Merchandise Exchange (COMEX) for March gold delivery fell 2.5% ($ 41.30) per ounce to $ 1,793.80, and silver deliveries in March fell 0.56% ($ 0.49) per ounce to $ 26.40 recorded.
