Dow jumps 500 points as comeback rally gains steam:

   


Dow jumps 500 points as comeback rally gains steam:


.On Thursday, stocks rebounded as new labor market data restored investor confidence in the U.S. economy, following a sharp decline earlier in the week.



The Dow Jones Industrial Average rose by 575 points, or 1.5%, while the S&P 500 saw a 2% increase, and the Nasdaq Composite climbed 2.5%.


Eli Lilly, a major pharmaceutical company, surged nearly 9% after reporting earnings that exceeded expectations and raising its full-year outlook due to strong demand for its diabetes drug Mounjaro and obesity treatment Zepbound. Other stocks that had been hit hard on Monday also rebounded, with chipmakers Nvidia and Broadcom rising 4% and 5.2%, respectively. Meta Platforms gained 3%, and Apple inched up 1.3%.


The latest weekly jobless claims report showed a decrease in first-time filings for unemployment benefits, which totaled 233,000 last week—17,000 fewer than the previous week and below the Dow Jones estimate of 240,000. This data helped ease concerns about the strength of the labor market.


The 10-year Treasury yield edged up to 3.99% following the jobless claims report, a level last seen before the disappointing July jobs report sent markets into a tailspin.


A weaker Japanese yen against the U.S. dollar also contributed to the market's recovery on Thursday. Earlier in the week, a surge in the yen had prompted the unwinding of a popular hedge fund carry trade, which was partly blamed for Monday's market decline.


Thursday's market gains came as major indices attempted to recover from the steep losses seen on Monday, when the Dow and S&P 500 experienced their worst day since September 2022. Despite Thursday's rally, concerns remained that the issues behind Monday's sell-off had not yet been fully resolved. 


"Today's trading is somewhat grounded in fundamentals, but the market is still in a state of evaluation," noted Rob Haworth, senior investment strategist at U.S. Bank Wealth Management.


#investment #stock mareket #stockexchange #profit #bulllrally #gain

Comments

Post a Comment

Popular posts from this blog

Suzlon Energy stock locked at 5% upper circuit, hits multi-year high; shares soar 300% in a year

Image
Suzlon Energy stock locked at 5% upper circuit, hits multi-year high; shares soar 300% in a year   Shares of Suzlon Energy have surged, hitting a 5 percent upper circuit and reaching a multi-year high of Rs 80.36 on the NSE as of August 12. This strong performance has led to a 47 percent return over the past month, and the company’s market capitalization recently crossed the Rs 1 lakh crore threshold. The stock is now trading at its highest level since March 2010. The recent rally in Suzlon’s shares follows the company’s announcement of acquiring a 76 percent stake in Renom Energy Services Private Limited from the Sanjay Ghodawat Group. This strategic acquisition, executed in two tranches, marks Suzlon's entry into the multibrand Operations and Maintenance Services (OMS) sector. Morgan Stanley had previously issued an overweight rating on Suzlon with a target price of Rs 73.4 per share, a benchmark that has now been surpassed. The brokerage highlighted that Suzlon’s valuation, at...
Read more

realiance can make monopoly over the fmcg bussiness in india . it is the next target of mukesh ambani

Image
  Message yourself MONDAY 1000099890.pdf 1 page • PDF • 38 kB 7:36 PM 1000072656.pdf 1 page • PDF • 49 kB 7:37 PM 1000029181.pdf 1 page • PDF • 86 kB 7:38 PM ilovepdf_merged (1)_compressed-compressed (1) (1).pdf 4 pages • PDF • 353 kB 7:38 PM 1000100832 (1) (1).pdf 1 page • PDF • 71 kB 7:46 PM . Reliance Consumer Products, a subsidiary of Reliance Industries, is aiming to shake up India’s chips, namkeen, and biscuits markets by providing significantly higher trade margins across the supply chain. Following its efforts in the cola sector with Campa Cola, Reliance is now applying a similar strategy to its snack brands, Alan Bugles and Snactac. Super stockists, who typically earn around 3-5% in margins from other major brands, are being offered approximately 6.5% by Reliance. This move is intended to incentivize and strengthen relationships with distributors and stockists, making Reliance a preferred partner in the competitive FMCG sector. By increasing profitability for its trade par...
Read more