US market session wraps; Major Indices energized on an upward trend with positive economic news

Stocks jumped on Thursday session high enough for both NASDAQ and S&P to set new record highs.
QUARRY BAY, Hong Kong - June 28, 2021 - PRLog -- Traders are currently digesting the economic data that was recently released, as well as President Joe Biden announced that him and the Senate Lawmakers were able to come to an agreement for a bipartisan infrastructure project.

The Dow was able to gain more than 300 points or almost 1%. NASDAQ and S&P set new highs for intraday session as well as on market wrap. Tech stocks were going up again after being suppressed for a long time as a result of the Federal Reserve's statement about the updated outlook for interest rate hike and inflation. Because of this, the investors that were originally on cyclical stocks shied away from it and switched back to tech stocks, which greatly affected the "reopening" stocks of airlines and cruise lines.

The new data on the weekly jobless claims report also came in today which reflected a drop in number of new filings, though the drop was less that what was expected. Then on Friday, July 2, the print on PCE (personal consumptions expenditures) will be the guide on how much inflation has changed and this is what most traders are wary of.

These information and reports are considered most important as it will be dictating the trend for the market as this information are what the investors are watching out for. Here's a quick summary for Thursday's market session:
  • NASDAQ Composite Index stepped up to 14,369.71 after gaining 0.69% or 97.98 points.
  • The Dow Jones Industrial Average closed at 34,196.82 and went up by 0.95% or 322.58 points.
  • S&P 500 Index moved higher by 0.58% or 24.65 points and wrapped at 4,266.49.
  • U.S. 10 Year Treasury yield unchanged at 1.4870%.
  • Gold stepped down by 0.49% or $8.80 and now at $1,774.60 an ounce
  • Crude slightly up by 0.25% or $0.18 at $73.26 per barrel
Cryptocurrencies still struggling with all the policies and regulation pushed forward by China. Here's how it looks like Thursday:
  • Bitcoin (BTC) - $31,734.37
  • Etherium (ETH) - $1,803.33
  • Ripple (XPR) - $0.6078
  • Bitcoin Cash (BCH) - $454.12
  • LiteCoin (LTC) - $125.64
Get to know more of the latest news in US Stock Market and Crypto Currency visit us at Blackwood Investments Limited through our website or contact us via email.

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