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The American trade dispute remains the big factor of uncertainty
(Photo: Bloomberg)
New York / Frankfurt A motor Job buzzing in the United States challenged Wall Street fueled by the showdown in the trade dispute in China on Friday. Labor market data eased fears that the US Federal Reserve will consider more aggressive rate hikes due to rising inflation. However, the trade dispute between the United States and China remained a major drag on the stock markets.
The Dow Jones Defaults Index added 0.41% to 24,456 points. The S & P 500 at the market scale gained 0.85% to 2759.82 points and the Nasdaq 100 technology stock selection index even rose 1.50% to 7207.33 points . There was good news here, especially in the biotech sector with a revival of Biogen's shares. Also on the stock markets of Europe skyrocketed: The Dax closed up 0.3% to 12,496 points. The EuroStoxx50 rose 0.2%
In June, 213,000 new jobs were created in the United States, much more than analysts expected. At the same time, modest growth and slightly lower expectations of 0.2% hourly wages eased fears of a sharp rise in inflationary pressures.
This should allow the Fed to maintain its rate of gradual rate hike. "Today's figure does not really indicate that wage pressures are getting out of control, which is positive for the market," said market strategist Anthony Saglimbene of Ameriprise Financial Services broker. . The euro extended its gains and temporarily climbed 0.7% to a record high of $ 1.1767 in three weeks.
BREMST COMMERCIAL DISTRIBUTION – BIOGENIC ACTIONS ESTABLISH
The trade dispute between the United States and China continues to cause uncertainty. Shortly after US rights were boosted by $ 34 billion in Chinese imports on Friday, China began to retaliate to the same extent. "You can compare that to a boxing match that started the first round," said Norihiro Fujito investment strategist of Mitsubishi broker UFJ Morgan Stanley Securities. A trade war has now become a reality.
Both governments are convinced that they have more weight, said investment strategist Ulrich Stephan of Deutsche Bank. "An issue is currently missing, so the markets should continue to react nervously to any statement on the trade dispute."
On the corporate side, Biogen stood out. Positive results from a study on a drug against Alzheimer's have boosted the shares of the US pharmaceutical company. They grew by almost 20 percent and posted their biggest daily gain in more than a decade.
In addition, the heavyweights of technology Apple, Microsoft, Facebook and Amazon have provided the biggest boost in the market. mailbox.
