The so-called “stock market bloodbath” has continued on Friday with major indices falling down to the lows of the last October. What's going on?
American stock indices go up by 0.9%-1.7%
Information is not investment advice
On Wednesday, American stock indices concluded trading on the rise. They got to the maximum levels in nearly a month due to good reports from a number of large companies, as well as upbeat statistics, according to MarketWatch.
The Dow Jones Industrial Average index managed to gain from the beginning of this year (+ 0.3%). Additionally, Standard & Poor's 500 leapt 1.2%, while Nasdaq Composite acquired 5.5%.
All eleven industry groups of S&P 500 rose. The leaders of the surge were the high-tech and consumer sectors. It is expected that the growth in net income of companies whose shares are included in the calculation of this indicator amounted to an average of 17.3% in the first quarter, which is a record leap from 2011, although it might partly be due to changes in tax legislation in America.
The number of houses, whose construction was started in the USA in March, increased by 1.9% compared to the previous month and amounted to 1.319 million in annual terms. Analysts surveyed by Dow Jones predicted a 1.6% rise in March.
The volume of industrial production in the US in March increased by 0.5% compared with the previous month, according to a report of the Federal Reserve System. The growth rate slowed by half, but surpassed market expectations.
Standard & Poor's 500 for the day went up by 1.07%, getting to 2706.39.
The value of Nasdaq Composite increased by 1.74% hitting 7281.1.
The Dow Jones Industrial Average on Tuesday increased by 0.87% ending up with 24786.63, which is the highest value since March 16.
The indices of the S&P 500 and Nasdaq concluded the trading day at record levels since March 21.
The share price of Netflix Inc. ascended by 9.2% on Tuesday (which is the biggest increase among companies from the S&P 500), concluding the day at a historic maximum.
UK Prime Minister was placed in the intensive care. As a result, the British pound plummeted dramatically today.
Coronavirus pushes to recession countries one by one. This time it gets to Japan, known as one of the world’s hardest working nation.
Canadian jobs data will be announced on Thursday at 15:30 MT time.