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US stocks rise in cautious trading in global markets | Associated Press

Shares rose on Wall Street on Thursday, but remained mixed for a week due to a series of uneven trades in the global market.

The S & P 500 Index rose 0.8% at 1:09 pm eastern. The Dow Jones Industrial Average rose 203 points (0.6%) to 34,562, while the Nasdaq rose 1.1%.

Technology and telecommunications stocks had some of the strongest profits. Many companies have oversized values ​​that tend to shake the wider market in either direction. Chip maker Nvidia rose 8.6% and Facebook parent Meta rose 2.8%.

So far, the major US indices have been mixed for a week, after alternating gains and losses over the past few days.

Darrell Kronck, Chief Investment Officer of Wells Fargo’s Wealth & Investment Management, said:

The European market has risen. Germany’s DAX rose 0.3%, France’s CAC 40 rose 0.2%, and the UK’s FTSE 100 rose 0.4%. The Asian index was almost low.

Crude oil prices soared a day ago and then fell. Benchmark crude in the United States fell 1.8%, and international standard Brent crude fell 1.3%. Overall, global oil prices are on a sustained rise in inflation. Russia invades Ukraine.

Investors around the world were watching the outcome of the NATO-European summit on Thursday. G7 countries have restricted the use of gold in transactions by the Central Bank of Russia, and the United States has announced new sanctions on Russian individuals and groups.

Dozens of countries, including the United States and much of Europe, say they are uniting to “fundamentally” reduce Russia’s oil and gas imports.

Sanctions have so far destroyed the value of the ruble and urged the Russian stock exchange to close almost a month ago. The exchange reopened on Thursday under strict restrictions To prevent large-scale sales such as those that occurred in anticipation of breaking financial and economic sanctions from Western countries.

Wall Street is watching The latest trends in conflict It seeks to determine if it can exacerbate inflation and potentially put pressure on the growth of the global economy. Businesses and consumers are facing rising costs of materials and commodities, and central banks are raising interest rates to mitigate the effects of inflation.

Bond yields are rising overall as the market prepares. Higher interest rates.. Yields on 10-year Treasuries rose from 2.31% late Wednesday to 2.34%.

“The market is clearly showing a slowdown in GDP growth and earnings growth,” Kronck said.

Investors have received promising updates on the continued recovery of the labor market.Number of Americans Applying for unemployment allowance Last week it fell to the lowest level in 52 years. A bright report was added to the data earlier this month, showing that employers added 678,000 strong jobs in February. This is the largest monthly total since July.

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US stocks rise in cautious trading in global markets | Associated Press

Source link US stocks rise in cautious trading in global markets | Associated Press

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