US unemployment data halts index growth

11 months ago

Key US indices at the close of trading on Thursday changed in different directions.

The Dow Jones Industrial Average added 11 points (+ 0.045%) to 26,281. The NASDAQ technology companies index fell 67 points (-0.69%) to 9,615. The S&P 500, which includes the 500 largest companies, lost 10 points (-0.34%), up to 3,112.

According to The Wall Street Journal, stocks have been rising for most of the week despite social unrest and mass protests that have gripped the United States since African-American George Floyd died after being detained by Minneapolis police. Instead, traders focused on promising signs of economic recovery, as well as optimism that the global economy could see more incentives.

Data on job losses and trade on Thursday halted the rally, giving investors a chance to make a profit after a dramatic rebound in stocks that began in late March.

It was previously reported that the number of initial applications for unemployment benefits in the US over the past 11 weeks since the introduction of restrictive measures in connection with the new coronavirus (from March 15 to May 30) exceeded 42 million.

Recall that the key US indices on the basis of trading on Wednesday rose to 2% amid investors’ hope for improved economic activity ….

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