Wall Street closed in green, encouraged by labor data

Wall Street closed this Thursday in green after several days of losses. The Dow Jones, its main indicator, increased by 0.55%, encouraged by labor data, consistent with the economic recovery in the US. 

At the close of the New York Stock Exchange session, the Dow Jones advanced by 188.11 points to 34,084.15. The selective S&P 500 rose 1.06% or 43.44 points to 4,159.12.

The Nasdaq Composite Index, listing the leading technology companies, gained a remarkable 1.77% or 236.00 points, to 13,535.74.

 

Tech sectors led the rise

The New York stock market rebounded, driven primarily by the technology sector. It gained 1.87% thanks to large firms. Netflix advanced by 2.86%, Apple expanded by 2.10%, and Microsoft rose by 1.38%.

Investors reacted by betting on purchases to a weekly decline in the number of applications for unemployment benefits to 444,000, the lowest since the pandemic began.

Fears about the rise in inflation seemed to take a backseat, as did concerns about the cryptocurrency market, which suffered sharp cuts yesterday.

But bitcoin, which has rebounded to $40,000 today, briefly suffered after the Treasury Department announced increased fiscal oversight on transactions over $10,000.

Among the 30 which are on the Dow Jones, in addition to technology companies, Boeing hiked up by 1.44%. On the other hand, Amgen gained 1.33%, Disney surged by 1.23%, and Travelers expanded by 1.15%.

Cisco, which had fallen in the morning in reaction to a worse-than-expected future outlook, ended up gaining 0.72%.

Virgin Galactic soared by 14.7% after announcing that its next flight test into space will be this Saturday.

 

Stock futures are higher following the previous day rebound

Stock futures were moderately higher in early morning trading. It followed major averages rebound from a three-day losing streak.

Futures on the Dow Jones Industrial Average increased by 71 points. S&P 500 futures and Nasdaq-100 futures traded in somewhat positive territory.