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© Reuters.
Investing.com – Stocks jumped for a third session Thursday, partly because of information that the Trump administration could refrain from imposing new tariffs on goods shipped from Mexico to the United States.
In addition, rumors that the Federal Reserve could cut rates at its meeting in mid-June continued to presume.
Information on Mexico has shocked US financial markets. interest rates have increased slightly, as have most of the major sectors of the market.
The jumped 0.61%. The added 0.53%, and the jump of 0.71%. The Dow has just missed its third consecutive day of gains of more than 200 points.
The strength of the rally allowed the Dow and S & P 500 to achieve their best weekly performance in 2019: the Dow rose 3.65% for the week after Thursday's close and the S & P 500's 3.3%. Nasdaq is up 2.2%. His best week was the week of March 11, with a rise of 3.78%.
But one aspect of Thursday's rally deserves to be watched.
The index fell 0.92%, with the railways lagging behind. Kansas City Southern Railroad (NYSE 🙂 and Union Pacific (NYSE 🙂 is a major player in the freight forwarding industry in northern Mexico. Kansas City Southern sold 1.64% and Union Pacific sold 1%.
Meanwhile, the index has peaked at 52 weeks as investors bet that interest rates will fall. Investing.com sees little chance of a rate cut in June. But futures on federal funds provide for a reduction in rates by July and almost certainly by September. The fed funds policy rate is now 2.25% to 2.5%. Most bond yields are below that.
Financial markets have been influenced in recent weeks by rumors or rumors about the direction of US trade policy. Information that the United States will delay tariffs on Mexico depends on Mexico's ability to curb illegal immigration to the United States, the main point of contention and the will of President Donald Trump, traveling to Europe, to accept this decision. Thursday late, Reuters tweeted The White House still plans to impose Monday 5% of Mexican shipments.
Friday's market will begin with investors' reaction to the May Jobs Report, due to be released at 8:30 am ET (12:30 GMT). Economists surveyed by Investing.com expect the Labor Department to post a stable unemployment rate of 3.6%. And estimates indicate that non-farm payroll, a key measure observed by investors, will increase by 185,000, down from the 263,000 jobs created in April.
Meanwhile, investors in large stocks have been satisfied, especially for energy stocks. Chevron (NYSE 🙂 and Exxon Mobil (NYSE 🙂 were among Dow's best-performing stocks, up 1.8% to $ 52.29. , the global benchmark, rose 1.72% to $ 61.67. Only a day earlier, Brent briefly fell below $ 60 for the first time since the end of January.
Apple (NASDAQ 🙂 and Boeing (NYSE :), vulnerable to trade policy, also advanced and contributed about 32 points to Dow's gain.
Chipmaker Advanced Micro Devices (NASDAQ :), Tesla (NASDAQ 🙂 and NetEase (NASDAQ 🙂 were up 0.76%. The index is dominated by large technology stocks such as Apple, Microsoft (NASDAQ :), Amazon.com (NASDAQ 🙂 and Google parent Alphabet (NASDAQ :).
Winners and bearers among S & P 500 stocks
Advanced micro-devices (NASDAQ :), international perfumes and fragrances (NYSE 🙂 and TechnipFMC (NYSE 🙂 were some of the top S & P 500 artists of the day.
Brands (NYSE :), Macerich (NYSE 🙂 and Range Resources (NYSE 🙂 were among the weakest in the S & P 500 during the day.
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