SHEUNG WAN, Hong Kong
- April 16, 2021
-- A print has been released by the Commerce Department about the consumer spending last March, which was a huge boon for a sign of economic recovery. The report tackles increase of sales on food and drink services, clothing and other consumer in demands. Stimulus cheques played a big role on the recorded spending, but the successful vaccine rollout is considered the main reason affecting the mind set of people returning to normalcy.
Another market stimulus is the new print of weekly jobless claims which showed a huge drop in numbers, indicating improvement of citizen lifestyle. Federal Reserve members declared that there was an increase in economic activity since February of this year. That being said, economist still projects that inflation is bound to happen with the citizens returning to normalcy and the increase in consumer demands. The Central Bank, however, sticks to their previous statement that support is still needed for the economic recovery and that inflation will still be control so a certain extent.
Stock market got a huge boost as S&P and the Dow recorded intraday new highs as well as closing new all-time highs. NASDAQ outperformed with over 1% increase in value. Here's a quick view of the major movements in the market for Thursday, April 15:
- NASDAQ Composite Index jumped 1.31% or 180.92 points to 14,038.76, recovering losses from yesterday's session
- S&P 500 Index gained 1.11% or 45.76 points and ended 4,170.42 as a new record high
- The Dow Jones Industrial Average closed with a new record high of 34,035.99, stepping up by 0.90% or 305.10 points
- Gold up by $28.80 or 1.66% at $1,765.10 per ounce
- Crude closed $63.34 per barrel with an increase of $19 or 0.30%
- U.S. 10 Year Treasury yield dropped 10.8 basis points and now at 1.5300%
Cryptocurrency is now starting a new age as Coinbase started in the stock market debut earlier this week. Shares have dwindled down a bit today due to volatility but still has a positive outlook for investors.
These are the 5 main cryptocurrencies available in the market:
- Bitcoin (BTC) - $60,759.56
- Etherium (ETH) - $2,392.81
- Ripple (XPR) - $1.63
- Bitcoin Cash (BCH) - $903.39
- LiteCoin (LTC) - $274.18
For more latest news in US Stock Market and Crypto Currency you may also visit us at Invest Consulting Group Limited through our website https://investcgl.com/
or contact us via email.