Wall Street benefits from positive US labor market

Advances in the US labor market have pleased investors on Wall Street. In addition, the "New York Times" reported, citing its documents, that US President Joe Biden will propose a six trillion dollar budget on Friday. The budget is intended to strengthen education, health care and infrastructure in the country. The Dow Jones index of standard values closed 0.4 percent higher to 34,464 points. The technology-heavy Nasdaq traded barely changed at 13,736 points. The broad S&P 500 gained 0.1 percent to 4,200 points. At 406,000, the number of weekly initial jobless claims was lower than expected and the lowest it has been since the start of the pandemic. Lifted pandemic restrictions and vaccinations against Covid-19 for more than half of adults increased the need for workers in factories, restaurants and construction sites. Bitcoin investors have remained volatile after the recent price crashes. The cyber currency traded 1.3 percent lower at $ 38,776. China had scared investors off with the prospect of stricter regulation in the cryptocurrency sector. At the top of the Dow were the papers of the aircraft manufacturer Boeing with an increase of 3.9 percent. The course was pulled up by the production plans of the European rival Airbus. With a view to a recovery from the corona pandemic, he wants to expand production vigorously. Supplier General Electric (GE) climbed a good seven percent. Car stocks were once again in the favor of investors above. General Motors (GM) gained 2.9 percent. The group is ramping up production in five plants that have previously been closed due to the shortage of chips. Ford Motor added another seven percent to their very high previous day's profits. Tesla advanced 1.9 percent. The high demand for technology for data centers and graphics cards drove Nvidia's business vigorously at the start of the new financial year. In the first quarter, sales and profit jumped significantly compared to the same period of the previous year. The course, however, did not benefit from this, it fell by 1.4 percent. The shares had already risen noticeably in the past few days, close to their record highs reached in mid-April. The bottom line was that the euro moved only a little. After the US market closed, the common currency cost $ 1.2198. The European Central Bank (ECB) had set the reference rate at 1.2198 (Wednesday: 1.2229) dollars, so the dollar had cost 0.8198 (0.8177) euros. The futures contract for ten-year Treasuries (T-Note-Future) fell 0.11 percent to 131.84 points. The ten-year bond yield was 1.60 percent. Because of the encouraging job data, the anti-crisis currency gold lost its luster for investors. The troy ounce of the precious metal fell 0.3 percent to $ 1,890. In contrast, investors again stocked up on copper. The industrial metal rose 2.6 percent to $ 10,242 per ton. Investors feared supply bottlenecks due to the threat of miners' strike in Chile, an important export country. Oil prices also rose by around half a percent.