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Dow Jones Corrects After Big Spike Yesterday While trading is expected to be light today. Before the market closes tomorrow On Thanksgiving And there will only be half a trading day on Friday.
At 9:55 pm Thai time, the Dow Jones Industrial Average stood at 29,872.83 points, negative 173.41 points or 0.58%.
The Dow closed more than 400 points, breaking the 30,000 point for the first time last night. It responds to the clarity of the American political direction. After President Donald Trump has initiated a process of transfer of power to the President of the United States, Joe Biden, and the market has also been boosted by the progress in the development of the COVID-19 vaccine. Including speculation that former Federal Reserve chair Janet Yellen (Fed) will become the new finance minister.
The Dow Jones jumped more than 13% this month, making it the most likely to post a monthly rise since 1987.
The Dow Jones jumped above 30,000 points yesterday for the first time. After President Trump tasked the director of the US General Services Administration (GSA), Emily Murphy, with starting a process of handover to the Biden administration. What gives you access to the necessary resources to transfer power. And it paved the way for easy access to White House duties.
The release of US economic figures today. The US Department of Labor said the number of unemployment benefits for the first time rose to 778,000 last week. And above analyst expectations of 733,000 from the 742,000 level reported earlier this week.
The Commerce Department released its second Q3 2020 estimate for gross domestic product (GDP), which indicates that the US economy grew 33.1%, a record since the US began collecting data in the year. 1947, or more than 70 years before
The expansion figures have not changed from the first estimate.
The United States had the highest previous expansion at 16.7%, reaching the first quarter of 1950.
Record US expansion in 3Q20 was fueled by the government’s initiation of easing the lockdown. Causing an open economy AND started working after the previous economic shutdown to slow the spread of COVID-19.
The US economy contracted 31.4% in the second quarter, a record severe contraction after a 5% contraction in the first quarter, which pushed the US economy into recession. Due to contraction for 2 consecutive quarters
Said the US Department of Commerce. U.S. orders for durable goods such as planes, cars and large machinery, with three or more useful lives, rose 1.3 percent in October, more than analysts expected, a 1.0 percent increase after a upturn. 2.1% in September
Also, basic durable goods orders What is a capital goods order excluding aircraft? And arms products It is indicative of the sector’s spending plan, with a rise of 0.7% and above the analysts’ estimate of 0.5% after rising 1.9% in September.
Investors are on the lookout for the Fed daily minutes from November 4-5 to be released today. Find signs of further easing of monetary policy by the Fed to mitigate the impact of the COVID-19 epidemic.
