Global Market Square
The U.S. and European stock markets ended higher Thursday as investors digested part of the reported jobs data, with the U.S. initial claims for unemployment falling 15.59%. On Friday U.S. employment data is due, and the forecast calls for 1 million new jobs, which would be the best growth since August. With the U.S. economy on the cusp of recovering most of the losses caused by the coronavirus shutdowns.
Key economic benchmarks reported:
- U.S. Productivity is at 5.40%, compared to -3.80% last quarter and -0.80% the previous year. This is higher than the long-term average of 2.20%.
- U.S. Initial Claims for Unemployment Insurance fell 498,000, down from 590,000 last week, reduced to -15.59% from the previous week.
- U.S. Unit Labor Costs: Nonfarm Business fell 0.30%, versus 5.60% last quarter; this is lower than the long-term average of 2.86%.
Eurozone Summary for May 6:
- Stoxx 600 closed at 440.59, down 0.96, or 0.22%.
- FTSE 100 closed at 7,076.17, up 36.87, or 0.52%
- Dax index closed at 15,196.74, up 25.96, or 0.17.%.
Wall Street Summary for May 6:
- The Dow Jones Industrial Average closed at 34,548.53, up 318.19 points, or 0.93%.
- The Standard & Poor’s 500 closed at 4,201.62, up 34.06 points, or 0.82%.
- The Nasdaq Composite Index closed at 13,632.84, up 50.42 points, or 0.37%.
- The Birling Capital Puerto Rico Stock Index closed at 2,566.05, up 31.75 points, or 1.25%.
- The U.S. Treasury 10-year note closed at 1.58%.
- The U.S. Treasury 2-year note closed at 0.16%.