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Dow jumps over 200 points as a result of positive trade signals from China

2019-11-07 04:56 pm | Resource: News | No Views : 24

 The Dow jumps over 200 points as a result of positive trade signals from China

Stocks in US markets hit record highs shortly after the opening bell on Thursday after a statement from the Commerce Department in Beijing announced that it had reached an agreement with the United States to phase out the mutual tariff in stages. In addition, China is alleged to have sent a signal in good faith after stating that its Ministry of Agriculture and Rural Affairs was considering abolishing restrictions previously imposed on US poultry imports. Investors will also focus on earnings reports from Walt Disney and Dropbox.

Initial jobless claims in the US fell by 8,000 to 211 thousand

Initial jobless claims in the US for the week ending November 2 fell 8,000 to 211,000 from the previous week's revised figure of 219,000, the Labor Department said Thursday. The four-week moving average was 215,250, up 250 from the revised average. For the previous week.

The seasonally adjusted insured unemployment rate fell at 1.2% for the week ending October 26, unchanged from the previous week's unadjusted rate. The advanced number of seasonally adjusted insured unemployment rose the same week at 1,689,000, down 3,000 from the previous week's revised figure of 1,692,000. The four-week moving average was 1,686,750, unchanged from the previous week's revised average of 1,686,750.

Trump: You must stop the witch hunt

 US President Donald Trump has called for a "witch hunt" against him to be stopped as the first public hearings in the Democrats' investigation are scheduled for next week. Trump tweeted on Thursday, "He just made it clear to me that in the coming weeks a false hearing in the House, where they are interviewing Never Trumpers and others, I don't get any lawyer or unnecessary operation. It's Pelosi, Schiff, a fraud against the Republican Party and I, Hunt Hunt should not be allowed to continue! ".

Hearings on Capitol Hill next week will be broadcast live. Among the last two presidents facing indictment, Richard Nixon resigned, while the Senate acquitted Bill Clinton.

US Stock Trading
  • The Dow Jones Industrial Average jumped 197 points, or 0.72%, at 9:53 Eastern Time. The Dow Inc rose more than 1.77% at 9:40 ET.
  • The Nasdaq 100 rose 0.64% at 9:54 ET. Baidu Inc. Gains, rising 9.77% at 9:56 ET.
  • The S&P 500 rose 0.54% at 9:55 am ET. Ralph Lauren Corp was the best performer, rising 13.03% at 9:41 Eastern Time.

The euro was down 0.06% against the dollar to trade at 1.10636 at 9:40 am ET, while the pound was down 0.28% against the US dollar, reaching 1.28210 at the same time.


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