The president of the The united states, Donald Trump said this Wednesday the national economy, severely hit by the pandemic coronavirus, will start to recover from September and he anticipated that “the coming year will be one of the best in history”.
“I feel more and more confident that our economy is in the early stages of a strong recovery. Not everyone agrees with me, but I have little doubt. Stay tuned to September, October, November. The coming year will be one of the best in history”said the president in a posting on his Twitter account.
And, in conclusion, remarked: “look at the state of the bag NOW!”, in reference to the fact that stock markets have recovered much of its losses since the start of the pandemic.
Wall Street rose Wednesday, with the Nasdaq index approaching an all time high, as signs of an economic recovery after the confinement helped investors to overlook the protests in the united States and fears about the pandemic.
Financial stocks, industrial and technology led to the three main market indices to have a positive day. The S&P 500 and the Nasdaq recorded its fourth consecutive days of solid gains.
The Nasdaq, the S&P 500 and the Dow Jones have rebounded strongly since their lows of march, after which the quarantine-related coronavirus beat the market, and are now 1.4%, 7,8% and 11.1%, respectively, below their closings highs established in February.
The Nasdaq 100 is now just 0.1% below its ceiling February and beat briefly to that level during the session.
The markets have been obviated to a large extent the tension between China and the united States and the protests in the country by the death of an unarmed black man at the hands of the police.
A series of weak data was not as bad as economists expected, after all, to the report from ADP showing many fewer losses in private employment in may than expected.
The market now awaits the report of government employment for may, which will be known on Friday and which analysts expect to show that the unemployment rate will raise his to a historical 19.7 per cent.
The Dow Jones Industrial Average gained 527,24 points, or 2,05%, to 26.269,89 units. The S&P 500 rose 42,05 points, or 1.36%, to 3.122,87 units, and the Nasdaq Composite added 74,54 points, or a 0.78% to 9.682,91 units.
Shares of Boeing climbed 12.9% and were the biggest boost to the Dow after the Third Point, the investor billionaire Daniel Loeb, said that he had a stake in the aircraft manufacturer.
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