Stock markets up - oil down

Published on: 11-May-2020
Category: Trading
Last updated: 11-May-2020

Stock markets up - oil down

The stock markets are mostly strengthened from the weekend. On Friday, the stock exchanges on Wall Street saw positive price jumps. Unemployment remained below the levels expected by experts and pushed prices higher. The unemployment rate is as high as it has been since the Second World War. While the rate was still 3.5 percent in February, it has now more than quadrupled to 14.7 percent. Outside of agriculture, 20.5 million jobs were cut last month. But the experts assumed 22 million jobs and overestimated the actual number. That gave the stock exchange prices the necessary boost. The US leading index Dow Jones gained 1.91 percent and is currently trading at 24331 points. The index of the tech exchange Nasdaq rose 1.6 percent and the broad-based S&P 500 ended the week up 1.7 percent.

In Asia, the stock exchanges were guided, among other things, by the prices on Wall Street. But the prospect of easing the Corona measures and normalization of the economy has also given investors confidence. In Japan, the leading index Nikkei 225, which tracks the country's 225 most important companies, rose by one percent. The broader Japanese Topix index even ended trading on Monday with a plus of 1.5 percent. The Hong Kong Hang Seng Index also rose 1.5 percent. The CSI 300, which tracks major Chinese stocks, moved up slightly at the close, but ended the day down 0.01 percent.

Other markets do not respond so positively to reports from business and politics. The oil price plummeted again after the brief recovery of the past few days. The price of the North Sea Brent has decreased by 2.5 percent per barrel and is currently at $ 30.1 per barrel. The price of the US light oil grade WTI has dropped two percent and costs $ 24.13 a barrel. The demand for crude oil is still weak on the world market and the worry about new rising sick people has not yet disappeared.



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