Home / Stock Exchanges / Wall Street recovered after Wednesday’s sell-off
Wall Street

Wall Street recovered after Wednesday’s sell-off

The leading Wall Street indexes across the ocean managed to overcome the negative moods of Wednesday’s stock exchanges. The investor fears that US President Donald Trump will not be able to implement his policies to support the US economy have led to the worst trade day in 2017. Today, however, the trend is turning against good macroeconomic news. The unemployment claims in the United States turned out to be 232,000 in the last week, while markets expected at least 240,000. Support for trade is also provided by technology companies.

Dow Jones raised its value by 0.27% to 20,663.02 points. The S&P 500 increased by 0.35% increase to 2,365.72 points. For Nasdaq, the increase is 0.73% to 6,055.13 points.

Attention to oil markets is already focused on the forthcoming OPEC meeting. The light WTI crude closed trade at 49.35 USD per barrel, up 0.6%. The European variety Brent oil reached a price of 52.51 USD per barrel, representing a growth of 0.6%.

In the currency markets, the US dollar stabilized its positions after several days of decline. Support was given to the statement of Cleveland Federal Reserve Officer Loretta Mester, who explained that the Fed would stick to its policy of raising interest.

The price of gold stopped its longest winning series since August 2016 after the strengthening of the stock and foreign exchange markets. The precious metal lost 0.5% of its value to 1,252.80 USD per ounce. On Wednesday, the contracts were exchanged for 1,258.70 USD per ounce.

About James McGovern

James McGovern is from Arizona, USA. He is business analyst and writer at Finance Apprise Journal, responsible for finance and trading sections, as well as news from USA and Canada.

Check Also

Asian stocks

Asian stock exchanges closed on green supported by the rising oil prices

Asian stock exchanges closed on green the Thursday trading session, following Wall Street’s upward trend …

Leave a Reply

Your email address will not be published. Required fields are marked *