The Stock Exchanges in New York Started With Modest Gains

The stock exchanges in New York started the trading day with modest gains on Thursday. Stock market trading has entered relatively calm waters now that the price trend of favourite stocks of “Reddit investors” shows less extreme results.

 

Furthermore, the focus was on new distribution figures and trade reports from several large companies.

The Dow Jones index rose 0.6 percent to 30,896 points. The wider S&P 500 won 0.3 percent to 3842 points and the tech gauge Nasdaq gained 0.5 percent to 13,673 points.

Shortly before the stock market opened, it was announced that the number of weekly benefit claims in the United States had fallen by 33,000 to 779,000, the lowest since November. The new figures from the Ministry of Labor indicate that the wave of redundancies in connection with the new spike in corona infections is diminishing.

Oil prices continue to rise. A barrel of US oil was worth 0.5 percent more at $ 55.93, close to its highest level in roughly a year. Brent oil climbed 0.3 percent to $ 58.60 a barrel.

Online marketplace eBay shot up more than 9 percent. The internet company doubled its profit in the past quarter thanks to the influx of consumers sitting at home. Thereafter, eBay also raised the outlook for the entire broken fiscal year.