October 17, 2021

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U.S. debt ceiling deal raises New York stocks

U.S. debt ceiling deal raises New York stocks

U.S. debt ceiling deal raises New York stocks

Stock markets in New York ended Thursday with good price gains. The agreement, signed by Republicans and Democrats in the Senate to raise the U.S. government’s debt ceiling until December, boosted voting among investors on Wall Street. Moreover, the number of new unemployment benefits in the United States was lower than expected.

The leading Dow Jones industrial average rose 1 percent to close at 34,754.94 points. The broad-based S&P 500 was up 0.8 percent at 4399.76 points and the technical benchmark Nasdaq was up 1.1 percent at 14,654.02 points.

Heavy technology stocks such as Apple, Amazon, Microsoft and Google Thai Alphabet rose 1.2 percent. Twitter attracted an additional 4.4 percent. The social media company has announced the sale of its MoPub advertising division. The area is said to have paid about $ 350 million in 2013. Twitter now earns more than $ 1 billion.

General Motors

Jeans maker Levi Strauss was well received by investors, gaining 8.5 percent after the quarterly figures. The focus was also on Pfizer (plus 1.7 percent), a pharmaceutical company that seeks approval from U.S. pharmaceutical authorities to vaccinate children against the corona virus from the age of five.

Other winners on Wall Street include Auto Group General Motors (GM) and 4.7 percent more. Industrial Saga Ford Motor rose 5.5 percent. Minor Freeford-McMoran recorded a profit of more than 8 percent.

Oil

In addition, investors were waiting for the important US government job report on Friday. Labor market figures may shed more light on the state of the economy. Better-than-expected job reporting increases the likelihood that the Federal Reserve will accelerate its withdrawal from support programs for the economy.

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The euro was valued at $ 1.1551 against the dollar at $ 1.1565 in Europe. U.S. oil prices rose 1.8 percent to $ 78.79 a barrel. Brent oil was up 1.7 percent at $ 82.42 a barrel.

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