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Wall Street opens higher and Dow rises more than 100 points

2018-09-13 02:23 pm | Resource: News | No Views : 215

US equity markets opened higher on Thursday after new reports on inflation and unemployment. The CPI rose 2.7% in August, or 0.2% from July. Initial jobless claims fell by 1,000 to 204,000 in the week ending September 8.

On the commercial front, reports have emerged that the United States has proposed new negotiations with China before tariffs on Chinese goods worth 200 billion dollars. On the other hand, Mexico said it wants to make a bilateral trade deal with Washington regardless of the outcome of trade talks with Canada, according to the Financial Times.

Unemployment claims in the US are down by 1,000 to 204,000

Initial jobless claims in the United States fell by 1,000 to 204,000 in the week ending Sept. 8, the US Department of Labor said on Thursday.

The insured unemployment rate was seasonally adjusted 1.2% for the week ending September 1st, unchanged from the previous non-adjusted rate. The insured unemployment rate was 1,696,000, a decrease of 15,000 in the unemployment rate adjusted the previous week. The four-week moving average was 1,711,250, down 8,250 from the previous week's average.

GM calls more than 1.2 million cars

The National Highway Traffic Safety Administration said on Thursday that General Motors is recalling more than 1 million cars in the United States as a result of driving.

The draw will include several models of Chevrolet, GMC, Cadillac SUVs and pickup trucks. General Motors said it had decided to move after 30 reports of crashes resulting from failures in the enhanced steering system. The company added that none of the incidents were fatal and two were injured in the collision. GM said the software update to fix the problem was already available and affected customers could contact the traders to schedule repairs for free.

GM will also call for more than 240,000 cars in the United States and Canada as a result of a different rear brake issue. The automaker noted that rear caliper presses could contain trapped hydrogen gas that could make the brakes feel soft, increasing the risk of an accident. According to the company, traders will remove brake gas in the GMC, Cadilac and Chevrolet Chevrolet models in 2018 and 2019.

US Stocks Open

The Dow rose 0.51% or 130 points after opening the market. Intel Corp. rose 1.16%.
The Standard & Poor's 500 Index gained 0.42%, with DaVita Inc rising 6.01%.
The Nasdaq 100 was 0.73% higher in the green zone at the beginning of the session. MercadoLibre Inc added 4.84%.

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