Even if the US government reported that employers continued to recruit heavily in March, US stock futures fell before Wall Street trading hours on Tuesday, adding 916,000 jobs, the highest level since August.
|Me: DJI||Dow Jones Average||33,527.1
|SP500||S&P 500||4,07.91||+58.04||+ 1.44%|
On Wall Street, the Standard & Poor’s 500 Index rose 1.4% to 4,077.91 points, a record high. The Dow Jones Industrial Average rose 379 points, or 1.2%, to 33,527.19, and the Nasdaq Index rose 1.6% to 13,705.59.
Traders were slow to respond to Friday’s encouraging employment report, which was released at the close of business on Friday. Investors were further encouraged by a report on Monday, which showed that the service industry recorded record growth in March due to soaring orders, hiring and prices.
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Throughout the recovery process, employment and service industries have been lagging behind other areas of the economy. Analysts said that in order for the recovery to be on track, both parties need to show signs of growth. In the United States, the mass vaccination efforts have made it seem closer to returning many people to normal.
Quincy Krosby, chief market strategist at Prudential Financial, said: “The employment report highlights the rebound in the labor market.” “The only factor hindering the recovery is the recovery, which will be caused by COVID-19. Another wave of craze.”
There was a big increase on Monday, and almost every industry was rising. Companies that could benefit from the broader economic reopening and economic growth also performed well. Norwegian Cruise Line jumped 7.2% to become the biggest gainer in the S&P 500 Index. The company seeks to restart voyages to US ports in July and vaccinate passengers and crew. Rival Carnival rose 4.8% and Royal Caribbean rose 3.5%.
Technology stocks also contributed to the rally. Apple rose 2.1% and Microsoft rose 2.5%. Tesla’s report that car deliveries doubled in the first quarter surprised investors. Its stock price soared 5.1%.
At the same time, after Wall Street’s surge on Monday, Asian stock markets were mixed on Tuesday, reflecting people’s optimism about the economic recovery from the pandemic.
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Japan’s benchmark Nikkei 225 index fell in early trading, falling 1.3% to close at 29,696.63 points. Australia’s S&P/ASX 200 rose 0.8% to 6,885.90. South Korea’s Kospi edged up 0.2% to 3,126.72. The Shanghai Composite Index rose slightly by less than 0.1% to 3,486.22. The Hong Kong transaction was closed on Easter.
Yoshimasa Maruyama, chief market economist at SMBC Nikko, pointed out that the recent recovery of the Japanese economy has been reflected in the Bank of Japan’s “tankan” survey released last week. He said that due to household consumer electronics, electronics have rebounded because the pandemic has curbed people’s spending on services.
Household expenditure data released on Tuesday showed a 6.6% decline in February, with a sharp decline in catering, clothing, transportation and entertainment activities.
The pandemic remains worrying, and medical experts warned Japan to prepare for the “fourth wave” of the surge in infections and deaths related to COVID-19, as the country lags behind the rest of the world in testing and vaccination.
Similar outbreaks have also occurred in other countries (including India and Thailand).
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In energy trading, in electronic trading on the New York Mercantile Exchange, the benchmark US crude oil price rose by 80 cents to $59.45 per barrel. Oil prices fell by US$2.80 on Monday to US$58.65 per barrel. International standard Brent crude oil rose 77 cents to $62.92 per barrel.
In currency transactions, the U.S. dollar rose from 110.19 yen to 110.26 yen. The euro exchange rate is 1.1811 US dollars, lower than 1.1813 US dollars.