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Investors responded to a variety of news. The Labor Department reported that the number of worker sponsorship requests decreased by 97,000 to 684,000 last week. This is another strong drop.
The figure for the large labor market has reached its lowest level since the outbreak of the Corona pandemic. Analysts see this as an indication that the US economy is recovering quickly. Official unemployment remains 4%.
President Biden reported an acceleration of vaccination.
Finance Minister Yellen reported this week that he expects the United States to reach “ full employment ” again in 2022.
Fed Chairman Jerome Powell hinted that there was “substantial” progress in canceling the stimulus measures. This will be “very gradually … and with great transparency,” Powell told NPR. However, this announcement will come sooner than expected.
The dollar strengthens
The market sees this as a temporary problem: the dollar is rising to its highest level since November of last year against the euro of $ 1.1797.
The US fourth-quarter GDP figure was revised down to 4.3% from 4.1% previously, compared to an annualized rate.
The yield on the 10-year US Treasury note will fall to 1.605% from 1.163% Wednesday. US oil is trading lower at $ 59, and Bitcoin is down 6% to $ 51,000.
Nike It drops 3.4%. It faces a boycott from China, because the sports brand refuses to use cotton from the Chinese province of Xinjiang. Adidas He lost 6%.
Aid ritual It is down 20.4% as the sales numbers fall.
GameStock, Driven by weeks by stock market rebels from Reddit’s Wallstreetbets subsection, was up 53% on close after five days in a loss in a highly volatile market.