16:02 Thu 03 Jun 2021
FTSE 100 off worst levels but still in the negative as Wall Street slips after strong economic data
The UK blue chip index and US markets under pressure as buoyant service sector figures and strong American jobs market rekindle inflation concerns
FTSE 100 down 44 points
US stocks open lower
4.02pm: US service sector surges
The strong US jobs data has rekindled investors concerns about inflationary pressures, and the idea that central banks might have to ease their support for the economy as a consequence. Which would mean, among other things, a rise in interest rates.
Adding to the signs of a strong US economy was the latest service sector survey.
Dow fails to eke out a winning day; tech struggles bog down Nasdaq
The latest set of jobless claims showed that the number of Americans filing for unemployment benefits fell below 400,000 for the first time since the start of the pandemic, while figures from payrolls operator ADP showed that 978,000 new private sector jobs were created in May, ahead of forecasts of 650,000
4:10pm: AMC traders head for the exits
The Dow closed Thursday down 23 points to 34,577. The Nasdaq fared worse, losing 142 points, 1%, to 13,615, while the S&P 500 dropped 15 points, 0.4%, to 4,193.
Helping the Dow salvage a relatively better day were Merck & Co Inc (NYSE:MRK) and Dow Inc (NYSE:DOW), both of which saw share price gains of more than 2%.
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Wall Street ends mixed as traders turn away from tech enough to pull the Nasdaq down to flat
Companies
04:16 Thu 27 May 2021
Wall Street ends mixed as traders turn away from tech enough to pull the Nasdaq down to flat
Better than expected jobless claims data, unchanged US GDP readings and mixed durable goods orders helped push the Dow higher, while the Nasdaq ended flat
4:10pm: Boeing enjoys strong session
The Dow ended Thursday up 142 points, 0.4%, at 34,465. The Nasdaq, meanwhile, lost 2 points to finish at 13,736, and the S&P 500 added 5 points, 0.1%, to 4,201.
The Boeing Company (NYSE:BA) drove the industrials higher, as the company s share price gained nearly 4% to $250.53.