Thursday U.S. shares closed on a positive note after two sessions of solid losses.
The Dow Jones Industrial Average fell 377 points (+ 1.6%) to 23625, the S&P 500 gained 32 points (+ 1.2%) to 2852, and the Nasdaq 100 rose 94 points (+ 1.1%) to 9094.
Banks (+ 4.1%), cars & components (+ 3.9%) and semiconductors and semiconductor equipment (+ 2.95%) were market leaders.
Cintas Corporation (CTAS + 14.7%), Leggett & Platt (LEG + 9.8%), Capital One Financial (COF + 9.6%), UnitedHealth Group (UNH + 4.5%) and Cisco Systems (CSCO) + 4.5%) were among the top winners.
On the technical side, approx. 24.6% (25.8% in the previous session) of stocks in the S&P 500 index above their 200-day moving average and 28.7% (44.4% in the previous session) were above their 20-day moving average.
USA. The Labor Department reported that the initial unemployment claims totaled 2,981 million for the week ending May 9 (2,500 million expected). Over 36 million Americans have become unemployed in the last two months due to the coronavirus pandemic.
Import prices fell 2.6% in the month of April (-3.2% expected), the biggest fall in five years.
Later today, investors will focus on retail sales (-12.0% for the month of April expected), the Empire Manufacturing Index (-60.0 for May expected), industrial production (-12.0% for the month of April expected) and the University of Michigan’s Consumer Sentiment Index (68.0 for May expected).
Meanwhile, tensions between U.S. and China does not appear to be easing in the near future. In an interview with Fox Business Network, U.S. President Donald Trump said he was disappointed with China over its response to the coronavirus crisis, adding that he would not speak to Chinese President Xi Jinping at the moment.
European stocks were substantially lower with the Stoxx Europe 600 index falling 2.2%. Germany’s DAX fell 2.0%, France’s CAC fell 1.7% and Britain’s FTSE 100 fell 2.8%.
U.S. Treasury prices remained fixed as the benchmark 10-year Treasury yield fell to 0.617% from 0.648% Wednesday.
The spot gold price charged $ 15 higher (+ 0.9%) to $ 1730 per share. Ounce and released a three-day rally.
Oil prices rose again as the U.S. WTI crude oil futures (June) jumped 9.0% to $ 27.56 per share. Barrel, the highest level since April 3.
On the forex front, ICE U.S. The dollar index rose 0.1% on the day to 100.26. In an interview with Fox Business Network, U.S. President Donald Trump said “it’s a good time to have a strong dollar.”