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The record hunt on Wall Street continued on Thursday

The record hunt on Wall Street continued on Thursday. Investors go on a shopping spree, especially in technology stocks.

The record hunt on Wall Street continued on Thursday
Yazar: Tom Roberts

Yayınlanma: 9 Nisan 2021 00:31

Güncellenme: 6 Kasım 2024 21:37

The record hunt on Wall Street continued on Thursday

The record hunt on Wall Street continued on Thursday. The S&P 500 marked a new all-time high at 4,098 points. Overall, however, the market was divided. While the standard values rose rather cautiously, technology values led by a wide margin. The Dow Jones index closed 0.2 percent higher at 33,504 points. The S&P 500, on the other hand, advanced 0.4 percent. The Nasdaq composite even climbed 1.0 percent. "The momentum remains positive for stocks," said Adrien Pichoud, portfolio manager and chief economist at SYZ Private Banking. "The Fed and central banks in general are perceived as if they are in no hurry to raise rates." This was confirmed by the minutes of the most recent US Federal Reserve meeting the previous evening. Statements by Federal Reserve President Jerome Powell during the virtual spring meeting of the International Monetary Fund and the World Bank on Thursday went in the same direction. On this occasion, Powell also allayed inflation fears that had pushed bond yields up sharply at the end of March by describing the rise in inflation as likely only temporary. The yield on ten-year bonds fell again and was around 1.63 percent in late trading. The weekly initial jobless claims were surprisingly high. Contrary to expectations, their number has increased. Compared to the previous week, the applications rose by 16,000 to 744,000, while economists had forecast a decrease to 694,000. Observers, however, spoke of an outlier; Last week, the US labor market report for March had surprised positively.
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