Dow rises 100 points; European markets close higher as investors keep an eye on U.S. stimulus talks; oil stocks; No change in key policy rate
Stocks rose on Thursday as traders weighed the latest comments from House Speaker Nancy Pelosi and President Donald Trump regarding further fiscal aid. The Dow Jones Industrial Average closed 122.05 points higher, or 0.4%, at 28,425.51 and reached its highest level in a month. The S&P 500 gained 0.8% to end the day at 3,446.83 and the Nasdaq Composite advanced 0.5% to 11,420.98.
IBM shares popped nearly 6% to lead the Dow higher after the company announced its plan to spin off its IT infrastructure unit.
Investors also digested the latest U.S. weekly jobless claims data on Thursday, which showed an additional 840,000 Americans filed for unemployment benefits for the first time. Economists polled by Dow Jones expected first-time claims for unemployment insurance to total 825,000 for the week ending Oct. 3.
With global investors keeping an eye on ongoing stimulus discussions in the U.S. The pan-European Stoxx 600 closed up by 0.9% provisionally, with oil and gas shares jumping 1.8% to lead the upward momentum, while basic resources slid 0.2% lower.
On the data front in Europe, German exports rose for the fourth consecutive month, growing 2.4% in August after a 4.7% rise in July, according to figures released Thursday by the Federal Statistics Office.
BELEX15 was down 0.53%, as Komercijana Alost 1.8%, while NIS was down 0.8%. The most active name was Jubmes Banka, with RSD 6.8m in volume.
Finally, we had some relevant corporate news, from NIS. The commissioning of the thermal power-heating plant in Pancevo, with a capacity of 200 MW, which is being built by Gazprom Energoholding, is expected in 2021, Gazprom says on the occasion of the new issue of European bonds. It was initially planned for the thermal power plant to be opened by the end of 2020.
After considering current macroeconomic trends and the overall outlook at its meeting yesterday, the NBS Executive Board decided to keep the key policy rate at 1.25%.
Source: CNBC, Ilirika