US closes higher on Biden's remarks

Thursday, 13. May 2021 22:00

Major stock markets in the United States closed higher on Thursday after President Joe Biden announced fuel supplies are expected to return to normal from next weekend after certain parts of the country suffered shortages due to the Colonial Pipeline shutdown. Earlier, it was revealed the initial jobless claims in the country declined by 34,000, while its producer prices rose by 0.6% in April.

The Dow Jones Industrial Average closed 1.28% or 429 points higher. The Nasdaq 100 surged by 0.83%, with Peloton Interactive Inc. growing by 6.65%. The S&P 500 advanced by 1.22%.

The euro gained 0.10% against the dollar to sell for $1.20842 at 3:57 pm ET.

More to come...

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Author:
Breaking the News / JR