May 18, 2022

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Kleine winsten op Wall Street na banenrapport VS

Small gains on Wall Street after the US jobs report

The Dow Jones Industrial Average rose 0.4 percent to close at 34,818.27 points. The broad-based S&P 500 was up 0.3 percentage points at 4545.86 points and the benchmark Nasdaq was up 0.3 percent at 14,261.50 points.

Government figures show that the number of jobs increased by 431,000 in March. This is less than the 490,000 jobs expected by economists. Unemployment was 3.6 percent, the lowest level in nearly two years. That means unemployment in the United States has returned to the level it was before the Corona crisis.

Stop the game

The jobs report is important because employment plays a key role in the US Federal Reserve’s interest rate policy. Strong job growth will lead to rapid rate hikes by the Federal Reserve.

Gamestop gave significant gain from the previous day and finally decreased by 1 percent. The video game seller announced plans to split the shares. A share of Gamestop now costs about $ 170 and by splitting the stock, the company wants to create pieces that are more affordable for small investors. GameStop was one of the so-called “meme stocks” group that attracted attention last year as small investors competed with large investment funds through Internet forums such as Reddit.

Apple

Apple collapsed a little. Analysts at JPMorgan Chase Bank have removed the technology company from their focus list due to pressure on consumer spending from high inflation. This could affect sales of iPhones, for example, as people keep their hands off the cut.

Oil prices continued to fall, the biggest drop in the past week, mainly due to the massive release of US strategic oil reserves. U.S. oil fell 0.8 percent to $ 99.45 a barrel, while Brent oil fell 0.1 percent to $ 104.58 a barrel.

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The euro was trading at $ 1.1044 against $ 1.1049 at the close of trading in Europe.