The Stock Exchanges in New York Started Trading With Gains on Thursday
The stock exchanges in New York started trading with gains on Thursday. Sentiment on Wall Street continues to be supported by hopes for additional stimulus measures to help the US economy through the corona crisis.
In addition, investors process a considerable amount of macroeconomic data, including the weekly distribution requests in the United States.
Shortly after the opening bell, the Dow Jones index recorded 0.8 percent higher at 28,009 points. The broad S&P 500 thickness increased 0.9 percent to 3,394 points and technology gauge Nasdaq gained 1.2 percent to 11,300 points.
Treasury Secretary Steven Mnuchin spoke with Democratic Speaker of the House of Representatives Nancy Pelosi on Wednesday about a massive package of aid for the world’s largest economy. Talks continue on Thursday. The parties have been opposed to each other for months, and investors hope there will be a breakthrough agreement in Washington.
Last week, another 837,000 Americans filed for unemployment benefits. Economists counted on 850,000 applications. The figure from a week earlier was revised to 873,000 applications. Friday, the critical US government jobs report will be published.
Among the companies, attention is paid to PepsiCo, which gained almost 1 percent in the first trading minutes. The snack and soft drink producer achieved higher sales and profit in the past quarter and expects sales growth for the whole of 2020. For example, more snacks from the brands Lay’s and Dorito’s were sold, but also breakfast cereals from Quaker.
Home decorator Bed Bath & Beyond also opened the books. The figures were clearly better than expected, and the stock gained about a quarter of its value. Beverage group Constellation Brands (minus 2.1 percent) also published quarterly results.