HANG SENG INDEX (^HSI)
| Previous close | 28,637.46 |
| Open | 28,721.13 |
| Volume | 0 |
| Day's range | 28,530.71 - 28,884.03 |
| 52-week range | 22,519.73 - 31,183.36 |
| Avg. volume | 2,665,368,342 |
- Bloomberg
Stocks Climb Toward All-Time High After Jobs Data: Markets Wrap
(Bloomberg) -- Stocks climbed toward a record after surprisingly weak jobs data eased fears about higher inflation and a cutback in stimulus. The dollar slumped, while Treasuries fluctuated.All major groups in the S&P 500 rose, with energy, real-estate and industrial shares leading the charge. Earlier in the day, technology led equity gains as softer economic data drove investors into the perceived safety of pandemic darlings -- megacaps flush with cash and stay-at-home stocks. A gauge of giant growth companies such as Apple Inc. and Amazon.com Inc. pared most of its advance.The long-awaited employment data rattled markets, with payrolls up only 266,000 in April, trailing the projected 1 million surge. For several analysts, the figures may give a boost to President Joe Biden’s $6 trillion economic agenda and another reason for the Federal Reserve to keep its accommodative stance. Treasury Secretary Janet Yellen said the report “underscores the long-haul climb back to recovery,” while retaining her expectation of a return to full employment next year.“Today’s report suggests that the jobs recovery may not be quite as rapid as many had expected,” said Mike Bell, global market strategist at JPMorgan Asset Management. “If this slower pace of job gains persists, then the Fed is likely to start raising rates later than markets had been expecting. While less good for the economy than a booming labor market, a ‘Goldilocks’ jobs recovery that is neither too hot nor too cold could continue to support equity markets.”Federal Reserve Bank of Minneapolis President Neel Kashkari told Bloomberg Television he has “zero sympathy” for critics on Wall Street, who slam the central bank’s aggressive support of the U.S. economy while millions of Americans remain out of work.“We need to rebuild this labor market and put them back to work. Then there will be plenty of time to normalize monetary policy,” he said.These are some of the main moves in markets:StocksThe S&P 500 rose 0.8% as of 3:26 p.m. New York timeThe Nasdaq 100 rose 1%The Dow Jones Industrial Average rose 0.7%The MSCI World index rose 1%CurrenciesThe Bloomberg Dollar Spot Index fell 0.7%The euro rose 0.8% to $1.2166The British pound rose 0.8% to $1.4001The Japanese yen rose 0.4% to 108.61 per dollarBondsThe yield on 10-year Treasuries advanced one basis point to 1.58%Germany’s 10-year yield advanced one basis point to -0.22%Britain’s 10-year yield declined two basis points to 0.77%CommoditiesWest Texas Intermediate crude rose 0.1% to $65 a barrelGold futures rose 0.9% to $1,832 an ounceFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
- Bloomberg
Stocks Advance to Session Highs; Dollar Declines: Markets Wrap
(Bloomberg) -- Stocks climbed as data showing the world’s largest economy is strengthening overshadowed inflation worries ahead of Friday’s jobs report. The dollar retreated.The S&P 500 traded near session highs, while the Dow Jones Industrial Average climbed to a record and the Nasdaq 100 underperformed. China’s shares traded in New York briefly extended losses after Bloomberg News reported the Biden administration is likely to preserve limits on U.S. investments in certain companies from the Asian nation.Applications for U.S. state unemployment insurance fell last week to a fresh pandemic low as labor market conditions continued to improve and the economy reopened more broadly. Separate data highlighted a rebound in productivity as the pace of output exceeded a pickup in hours worked. Traders are now awaiting Friday’s employment report, which is expected to show the U.S. added about 1 million jobs in April.“With jobless claims hitting a pandemic-era low, anticipation for the full jobs picture tomorrow mounts,” said Mike Loewengart, managing director of investment strategy at E*Trade Financial. “Today’s read is another proof point that we’re one step closer to full economic recovery. As we see some serious momentum building on the jobs front, all eyes will be on how this plays into action taken by the Fed.”After closing at a fresh high on Wednesday, the Dow Jones Transportation Average -- considered a barometer of economy activity -- surged 25% above its 200-day moving average. The move could be “perceived as indicative of strength likely to continue in the broader equity market,” said Bloomberg Intelligence’s Gina Martin Adams.These are some of the main moves in markets:StocksThe S&P 500 rose 0.5% as of 3:43 p.m. New York timeThe Nasdaq 100 rose 0.4%The Dow Jones Industrial Average rose 0.7%The MSCI World index rose 0.5%CurrenciesThe Bloomberg Dollar Spot Index fell 0.4%The euro rose 0.5% to $1.2062The British pound was little changed at $1.3895The Japanese yen rose 0.1% to 109.05 per dollarBondsThe yield on 10-year Treasuries was little changed at 1.57%Germany’s 10-year yield was little changed at -0.23%Britain’s 10-year yield declined three basis points to 0.79%CommoditiesWest Texas Intermediate crude fell 1.3% to $65 a barrelGold futures rose 1.7% to $1,815 an ounceFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
