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Added on the 07/05/2019 14:00:35 - Copyright : Wochit
Lukas Jackson/Reuters US stocks closed mixed on Thursday amid falling jobless claims and new hopes for a stimulus deal. The Nasdaq composite closed at all-time highs, while the S&P 500 lost its record close in the final hour of trading. New weekly claims for unemployment insurance totaled an unadjusted 712,000 for the week that ended Saturday. Economists surveyed by Bloomberg expected a reading of 775,000. Lawmakers warmed up to the $908 billion proposal Democratic leaders embraced on Wednesday, placing new pressure on Senate Majority Leader Mitch McConnell to reach a compromise.
On Friday, US stocks made gains as hopes for a peaceful transition to the Biden administration offset concerns about soaring COVID-19 cases. Business Insider reports S&P 500 closed at a record high. On Thursday Pres. Donald Trump said he'd hand over power when the Electoral College certifies President-elect Joe Biden as the winner of the 2020 election. The US reported 125,082 new coronavirus cases on Thursday. That brought the seven-day average to 163,831, according to the COVID Tracking Project. Deaths topped 254,000, and hospitalizations jumped above 90,000. The stock market's "fear gauge" fell as low as 19.51 on Friday, dropping amid low trading volumes to its lowest level since the pandemic began.
Tesla may be the new kid on the block in the auto industry, but it's quickly become a big kid on Wall Street. The electric-car maker's shares continued to climb more than 4% on Tuesday. This increases the company's total market value above $500 billion for the first time. The milestone comes on the heels of a banner year for Tesla's stock, says CNN. Tesla recently upgraded facility now has the capacity to build 500,000 Model Y and Model 3 sedans a year. This is in addition to 90,000 of its more expensive Model S and Model X vehicles.
Seoul, Nov 16 (EFE/EPA).- The Seoul Stock Exchange closed Monday with a 1.97 percent rise to hit a nearly three-year high amid hopes on effective vaccine against COVID-19.The benchmark South Korea Composite Stock Price Index (KOSPI) rose 49.16 points, or 1.97 percent, to close at 2,543.03. (Camera: JEON HEON-KYUN). SHOT LIST: SOUTH KOREAN DEALERS WORK IN FRONT OF MONITORS AT THE HANA BANK IN SEOUL, SOUTH KOREA.
On Friday, US stocks sank after news broke that President Donald Trump and First Lady Melania Trump tested positive for COVID-19. The diagnosis adds more uncertainties to the final month of a presidential race. Business Insider says the news is adding more stress to expected to higher than normal market volatility. Investors also faced off against weakening economic data. US businesses added only 661,000 nonfarm payrolls in September, according to the Bureau of Labor Statistics. Oil futures tumbled below the key support of $40 per barrel. West Texas Intermediate crude sank as much as 5.4%, to $36.63 per barrel.
On Wednesday, US stocks climbed as investors woke up to a disorderly presidential debate. The debate revived concerns of a disputed election result. Premarket futures traded negative until Treasury Secretary Steven Mnuchin told CNBC that he expected to reach a stimulus deal with House Speaker Nancy Pelosi. Business Insider reports that all three major US indexes opened in positive territory. Still, the S&P 500 is on track for its first monthly loss since March. US private firms added 749,000 payrolls last month, handily beating the median economist estimate of 649,000 payrolls.