All three major US indices are appreciating, despite poor signs in the US labor market. Techs stand out.
Wall Street is appreciating, driven by the strong performance of some of the biggest US stocks, mainly the tech giants. The indexes accelerate despite worse than expected employment data in the world’s largest economy.
The employment report that came out this Friday indicates that US employers hired far fewer workers than expected in April. Last month 266,000 people were hired, a number well below March (770,000) and the forecasts of analysts consulted by Reuters, which pointed to an increase of 978,000. According to this report, the unemployment rate rose from 6% to 6.1% in April.
Despite this negative sign, there are gains on Wall Street. The Dow Jones rises 0.09% to 34,578.27 points (another record high), the S&P 500 gains 0.21% to 4,210.34 points, while the Nasdaq advances 0.66% to 13,723.09 points.
The US stock markets are being sustained by the stocks that have been most punished by the bright economic outlook, such as technology stocks.
On the Nasdaq, Amazon (+0.11%), Facebook (+0.12%), Apple (+0.44%), Alphabet (Google’s owner) and Microsoft (both up close to 1%), liven up the trading in this, the last session of the week. Despite the Nasdaq’s recovery, everything indicates that it will close the week in the “red”, unlike the other two indexes.
