Arab Today, arab today wall street sets record on investor enthusiasm
Last Updated : GMT 21:56:24
Arab Today, arab today
Arab Today, arab today

Wall Street sets record on investor enthusiasm

Arab Today, arab today

Arab Today, arab today Wall Street sets record on investor enthusiasm

U.S. stocks
New York - XINHUA

U.S. stocks rallied Thursday, propelling the Dow Jones Industrial Average and the S&P 500 to uncharted territory, boosted by optimistic market sentiment triggered by good news out of and outside the country.
The S&P 500 hit a new intraday record of 1,941.74 points before finishing at 1,940.46 points, a record close, up 12.58 points, or 0.65 percent, a day after the benchmark index refreshed record intraday and closing highs.
The blue-chip Dow also touched an all-time intraday high of 16, 845.81 points and logged a record close of 16,836.11 points, rising 98.58 points, or 0.59 percent.
While the Nasdaq Composite Index jumped to a two-and-a-half month high, up 44.58 points, or 1.05 percent, to 4,296.23.
The record rally on Wall Street came out as market fears over Europe were alleviated after the European Central Bank (ECB) unveiled a batch of stimulus measures Thursday in an effort to tackle its long-standing deflation pressure.
The ECB announced at its policy meeting earlier in the day that interest rates of the main refinancing operation, marginal lending facility and deposit facility will be cut to 0.15 percent, 0.4 percent and minus 0.1 percent, respectively.
ECB President Mario Draghi told a press conference that the rate cut was among "a combination of measures to provide additional monetary policy accommodation and to support lending to the real economy."
The move which was largely in line with market expectations propped up the European market Thursday where most stocks closed in green territory.
U.S. equities also followed the suit, with the major indices posting strong performances, which were also underpinned by recent upbeat economic data from the world's largest economy.
On the previous day, the Institute for Supply Management (ISM) said economic activity in the U.S. non-manufacturing sector in May grew at the fastest speed since August 2013, topping market forecast.
Also on Wednesday, private payroll processor ADP data showed the U.S. private sector employment added 179,000 jobs in May. Though falling short of analysts expectations, the number wasn't considered to alter the recovering pace in the labor market in essence.
Investors are closely awaiting the department's nonfarm payroll report due out Friday to get more clues about the improvement in the U.S. labor market.
On the economic front, the number of Americans who initially applied for jobless benefits last week rose slightly. The U.S. Labor Department reported that the advance figure for seasonally adjusted initial claims increased 8,000 from the previous week to 312,000, while the four-week moving average fell to a seven-year low of 310,250.
In corporate news, Sprint is reportedly nearing a deal that would merge the third and fourth biggest U.S. wireless telecom carriers. The former has reportedly agreed to pay roughly 40 U.S. dollars per share to acquire T-Moblie US.
The CBOE Volatility Index, a gauge of fear in the market, dropped 3.31 percent to end at 11.68.
In other markets, the U.S. dollar retreated against major currencies Thursday and it weakened versus the euro despite the ECB's decision to cut interest rates to boost inflation and economy.
In late New York trading, the euro rose to 1.3653 dollars from 1.3599 dollars of the previous session. The greenback bought 102. 45 Japanese yen, lower than 102.71 yen of the previous session.
U.S. oil price lost ground. Light, sweet crude for July delivery moved down 16 cents to settle at 102.48 dollars a barrel on the New York Mercantile Exchange, while Brent crude for July delivery gained 39 cents to close at 108.79 dollars a barrel.
Gold futures on the COMEX division of the New York Mercantile Exchange registered the biggest one-day gain in three weeks.
The most active gold contract for August delivery rose nine dollars, or 0.72 percent, to settle at 1,253.3 dollars per ounce.

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today wall street sets record on investor enthusiasm Arab Today, arab today wall street sets record on investor enthusiasm

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today wall street sets record on investor enthusiasm Arab Today, arab today wall street sets record on investor enthusiasm

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today Lufthansa chief eyes up to 78

GMT 11:29 2017 Thursday ,21 September

Lufthansa chief eyes up to 78
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Rouhani at UN defends Iran nuclear deal

GMT 09:41 2017 Thursday ,21 September

Rouhani at UN defends Iran nuclear deal
Arab Today, arab today Saudi Arabia to unblock internet calling apps

GMT 11:31 2017 Wednesday ,20 September

Saudi Arabia to unblock internet calling apps
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today China lifts 10-year travel ban

GMT 18:09 2017 Thursday ,21 September

China lifts 10-year travel ban
Arab Today, arab today Puerto Rico, Virgin Islands brace

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Intel chips loaded in Waymo

GMT 14:43 2017 Wednesday ,20 September

Intel chips loaded in Waymo
Arab Today, arab today Five trends at the Frankfurt auto show

GMT 12:04 2017 Monday ,18 September

Five trends at the Frankfurt auto show
Arab Today, arab today Actress Ream Hhagag prepares for a new film

GMT 09:40 2017 Tuesday ,19 September

Actress Ream Hhagag prepares for a new film
Arab Today, arab today France hopeful of persuading Trump

GMT 06:21 2017 Wednesday ,20 September

France hopeful of persuading Trump

GMT 12:14 2017 Monday ,18 September

Horia Farghaly happy for success of “Case G”

GMT 10:35 2017 Thursday ,14 September

New Zealand opposition looks

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 19:18 2017 Monday ,18 September

5,000 'Dieselgate' deaths in Europe per year

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 04:49 2017 Wednesday ,20 September

WHO urges Yemen to accept vaccines

GMT 16:04 2017 Tuesday ,19 September

Egypt tourism revival steady but slow

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday