Mixed sign in Wall street after the weekly unemployment data, which have been slightly worse than expected and continue to show great job destruction. However, the S&P 500 is listed in full resistance of 2,950-3,000 points after the increases on Wednesday and the Nasdaq it is at 3% of its all-time high in February, as investors believe that the negative data will soon begin to improve due to the reopening of the world economy.
Last week, 2.43 million Americans applied for unemployment benefit, indicating that the destruction of jobs continues two months after the coronavirus pandemic caused the population to be confined.
The total number of unemployed people receiving unemployment benefits has increased to 25.07 million beneficiaries. This figure is the highest recorded by the American Department of Labor in the entire historical series and represents a weekly increase of 2,525 million people. The previous record was reached last week.
In any case, the New York indices show no signs of weakness, driven by the extraordinary stimulus measures applied by the Federal Reserve and Congress. Besides, the strength of the technology sector It has made Nasdaq the index of choice for operators.
On the other hand, the president Donald trump continues to harsh criticism of China. Through his personal Twitter account, he has blamed Beijing for “mass murder worldwide.” In a series of tweets, he has accused China of spreading “pain and carnage” around the world, and has pointed to the president. Xi Jinping when saying that “everything comes from above”.
In the raw materials market, oil prices continue to push up, reaching its sixth consecutive day of earnings, the longest positive trajectory in 15 months, after official data from the US government confirmed a drop in crude reserves.