Dow jumps over 400 points on optimistic data

Donnerstag, 13. Mai 2021 16:07

Wall Street extended gains on Thursday shortly after the opening bell, rebounding from the massive sell-off that stock markets registered over the last three days.

The positive sentiment was mostly pushed by better-than-expected economic data reports that were released earlier today. Producer prices in the United States annually rose better-than-expected 6.2% last month, while initial jobless claims for the previous week declined by 34,000 to land at 473,000.

The Dow jumped 1.31% or 437 points at 10:05 am ET, while the Nasdaq 100 soared 1.49% or 193 points. A minute later, the S&P 500 gained 1.33%. Meanwhile, the euro advanced 0.19% against the dollar to trade for 1.20947.

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Breaking the News / ND