- The Dow Jones officially closed up 522.55 points, or 2.03%, to 26,265.20.
- The NASDAQ unofficially closed up 68.36 points, or 0.71%, to 9,676.73.
- The S&P 500 officially closed up 40.73 points, or 1.32%, at 3,121.55.
US benchmarks were again firmly offered in the middle of the week, with risk assets rebounding sharply again as optimism about the economic recovery continues to accelerate.
Mild monetary conditions also help keep the supply alive and the news that the coalition of German Chancellor Merkel has reached an agreement on the German stimulus package – Bloomberg was beneficial. European markets are also benefiting from the expectations of new ECB actions.
Meanwhile, the good news spilled over into the US session as the data turned out to be better than expected, or rather not as bad. The markets also examined geopolitical tensions. As a result, the Dow Jones unofficially closed up 522.55 points, or 2.03%, to 26,265.20 while the NASDAQ unofficially closed up 68.36 points, or 0.71% to 9. 676.73. The S&P 500 unofficially added 40.73 points, or 1.32%, to close at 3,121.55.
US ADP surprised
ADP’s job losses were much less than expected in May. Jobs fell 2.76 million from expectations of 9 million.
“This could indicate a less pronounced decline than expected in the labor market, but it is another challenge for employment to recover from here. The unemployment rate in April in the euro area rose to 7.1 % versus 7.1%, well below the expected 8.2%, but Eurostat does not consider workers on leave to be unemployed or those who have lost their jobs due to the closings but have not been able to find work ” , analysts at ANZ Bank said.