Xinhua Finance New York, December 7 (Reporter Liu Yanan) Affected by factors such as the significant weight of some weighted technology stocks and investors' attention to the employment situation, the three major stock indexes in New York opened higher on the 7th and consolidated strongly during the session.
As of the day, the Dow Jones Industrial Average was 62 higher than the previous session95 points, closed at 3611738 points, an increase of 017%；S&P 500 Index 3625 points, closed at 458559 points, an increase of 080%；Nasdaq Composite Index**19328 points, closed at 1433999 points, an increase of 137%。
In terms of sectors, the S&P 500's 11 major sectors rose eight times and fell three. The communication services sector and the technology sector each ended with 322% and 1The gains were led by 28%, followed by 061% and 0A 24% decline led the decline.
According to data released by the U.S. Department of Labor on the morning of the 7th, the number of people applying for unemployment benefits for the first time in the United States last week was 220,000, lower than the market expectation of 2220,000, but up from 21 revised in the previous week90 thousand.
Data released by U.S. employment consulting firm Challenger, Gray & Christmas showed that U.S. employers laid off 4450,000, up from 3680,000 people.
Craig Erlam, senior market analyst at Chubb, said that the initial jobless claims released that day were not particularly important in themselves, and interestingly, the number of people who are still losing their jobs continues to rise despite the fact that the number of initial jobless claims is still low. In other words, while we haven't seen a sharp rise in layoffs, there seems to be an increase in the number of people who are struggling to find new jobs. It will be interesting to see if this trend will continue as the economic challenges deepen, or if it will eventually lead to higher layoffs.
Elram said that the non-farm payrolls data, which will be released on the 8th, will be very important. In particular, the month-on-month increase in wages was 02%, and if it is also at this level in November, it will indicate that wages** have returned to a level that is well aligned with 2% inflation. Although the labor market remains tight, it may be enough to convince policymakers that their next move is to cut interest rates early next year.
Alex McGrath, chief investment officer of Northend Private Wealth Management in the United States, said that the market's expectations for the Fed to cut interest rates next year are likely to be overdone. The U.S. non-farm payrolls data, which will be released on the 8th, may pour cold water on market sentiment.
Andrew Hollenhorst, an American economist at Citigroup, said on the 6th that earlier signs showed that the need to raise interest rates rapidly over the past two years and maintain high interest rates to reduce inflation will lead to a recession next year. He said core inflation is likely to remain above 2% for the whole of 2024, even after accounting for a recession. In the baseline scenario, the Fed will cut rates by 100 basis points starting in July next year.
*In terms of Google, the company launched its own large model gemini on the 6th, and the market's optimistic expectations for it drove the stock price of Google's parent company Alphabet Inc. to a sharp **531%。On the same day, the stock prices of Nvidia and AMD were **24% and 989%。
Editor: Luo Hao.
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