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Wednesday, December 1, 2021

USA. Wall Street records – November 2021

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Major Wall Street indices have set historic heights. The Friday session ended with increases and further records. The S&P 500 ended in positive territory for the seventh day in a row. Markets analyze the US labor market report for October.

Dow Jones Industrial closed by 0.56 percent to 36,327.95 points. This is the historic top of the index.

The S&P 500 at the end of the day rose by 0.37 percent to 4,697.53 points. This is a new record for this index.

The Nasdaq Composite rose by 0.20 percent. and closed the session at a record 15,971.59 points.


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Wall Street records

During the whole week, the S&P 500 gained 2 percent, and since the beginning of the year its increase has already reached 25 percent. The Dow Jones climbed 1.4 percent this week and the Nasdaq gained 3.1 percent, making the index the largest weekly gain since early April.

– We have a very good quarter in terms of performance, which takes precedence over worries about the risk of economic downturn in the run-up to the reporting season. The economy will need to continue showing signs of significant improvement to keep investors in good spirits as they adapt to a world without central banks holding interest rates at abnormally low levels, said Craig Erlam, an analyst in Oanda.

Stocks that rose on US stock exchanges

Pfizer shares grew by 8 percent. The company said its drug for COVID-19, when used with an HIV drug, reduces the risk of hospitalization or death by 89 percent. in high-risk adults who have been exposed to the virus.

Pfizer said it plans to forward its data to the Food and Drug Administration “as soon as possible.”

It is now the second antiviral pill after Merck to show strong efficacy in treating COVID-19 at the first sign of disease.

Peloton shares were down 34 percent. The company lowered its profit forecast for the financial year.

Uber grew 4.5 percent. Revenues in the third quarter were higher than expected.

Airbnb’s stock grew 11.5 percent. Revenues in the third quarter amounted to USD 2.24bn against expected USD 2.07bn.

Square was going down 2.5 percent. Net revenues in Q3 were lower than expected.

Expedia shares were up 13 percent. a day after the company announced that travel demand increased revenues and profits in Q3 above expectations.

Labor market in the USA

The number of new jobs in non-agricultural sectors in the United States increased by 531,000 in October. against the expected increase by 450 thousand. and an increase of 312 thous. a month earlier after the revision from 194 thousand.

The unemployment rate in the US was 4.6%, expected 4.7%. against 4.8 percent a month earlier.

Hourly wages rose 4.9 percent in October. y / y and m / m increased by 0.4 percent. vs. 4.9% consensus and 0.4 percent

The employment rate, determining what percentage of the working-age population is working, amounted to 61.6%. against 61.6 percent a month earlier. 61.7 percent was expected.

Main photo source: Shutterstock

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