【2021.5.6】Yesterday in the market and today's reflections
Stock Price
Yesterday's stock prices rose overall, with the Dow Jones Industrial Average up 0.93%, the Nasdaq Composite up 0.37%, and the S&P 500 up 0.82%.
The Dow Jones Industrial Average reached a new closing high.
The gains were buoyed by the U.S. Labor Department's report showing initial jobless claims at 498,000, an improvement from 590,000 the previous week.
On the other hand, following President Biden's expression of support for a temporary waiver of COVID-19 vaccine patents, shares of vaccine makers such as Pfizer and Moderna fell.
Today, the U.S. employment statistics are to be released.
The employment data are expected to show improvement in the U.S. economy, with a strong forecast of about 978,000 jobs.
After the data, there may be a pullback as the market digests the news, so be cautious.
The UK economy is recovering and technical indications are also rising.
The UK's FTSE 100 is showing strong gains.