US stocks continued recovering Thursday from a week of turbulence as some White House officials attempted to walk back trade escalations with China.
Here’s the scoreboard:
Dow Jones industrial average: 24,505.22 +240.92 (+0.99%)
S&P 500: 2,662.80 +18.11 (+0.68%)
AUD/USD: 0.7683 -0.0034 (-0.43%)
ASX 200 SPI futures: 5,790.5 +28.0 +0.49%
- The US and China indicated they’re open to negotiations on trade. The shift in sentiment on a wave of tariffs released this week seemed to calm markets, which swung sharply on Wednesday.
- The US dollar climbed to a three-week high, and treasuries inched above 2.80%. The dollar had been falling against other major currencies earlier this week.
- Jobless claims in the US rose more than expected. The labor market indicator is the highest it’s been in almost three months.
- Bitcoin extended losses to $6,792.71 at 4:17 p.m. ET. Major cryptocurrencies have been losing billions this week.
- A new cryptocurrency hedge fund is coming to the market. Travis Kling, a former Point72 portfolio manager, is looking to raise $25 million for the cryptocurrency hedge fund.
- Shares of Facebook, which is under fire for a massive data scandal, were up nearly 3%. The jump came after CEO Mark Zuckerberg told reporters that the turmoil hasn’t affected user behavior.
Here’s tomorrow’s economic calendar:
- The US is releasing monthly data on nonfarm payrolls, the unemployment rate, and other labor market data.
- Canada’s employment report for March is also scheduled for release.