Summary: Macro-positives stimulate the two major US stock indexes to new highs

Xinhua News Agency, New York, April 5th, Summary: Macro-positives stimulate the two major US stock indexes to reach new highs

In addition to the positive economic data, the three major stock indexes of the New York stock market all rose more than 1% on the 5th. The Dow Jones Industrial Average hit a new high that day, and the S&P 500 hit a new high for two consecutive trading days.

U.S. President Biden announced on March 31 an infrastructure construction package totaling approximately US$2.25 trillion. Observers believe that infrastructure plans and a series of recent economic data are good for injecting a "cardio booster" into the stock market.

Data released by the US Department of Labor on the 2nd showed that the US unemployment rate in March fell by 0.2 percentage points from the previous month to 6%, and the number of new jobs in the non-agricultural sector was 916,000, which was significantly higher than market expectations. Since the US stock market was closed on the 2nd due to a traditional holiday, this good news received market feedback after the opening on the 5th.

Data released by the American Institute of Supply Management on the 5th showed that the US service prosperity index in March was 63.7, significantly higher than market expectations of 58.6 and February's 55.3, which was the highest level in the history of the index.

Tony Dwyer, chief market strategist of Canadian Gatobe Xiang Investment Company, said that if there is no interference such as another outbreak of the epidemic or the Fed's policy mistakes, the US economy will enter a V-shaped rebound.

The Global Research Department of Bank of America said that according to the latest employment data, the employment situation in the United States will return to the level before the epidemic by the end of this year. Data on travel, dining out, and air travel have recovered well. As long as there is no large-scale pressure on medical resources, the economic recovery will continue even if the number of people infected with the new crown virus is still increasing.

Some analysts also believe that the U.S. stock market is also facing a correction risk while benefiting from large-scale infrastructure plans and positive macro data.

Australia’s chief market strategist Stephen Innes said that although the latest employment data is good, this is only the “first step in the long-distance ladder” of the economy, and there may be one or two follow-ups. slip".

The market research firm MRB Partners said that the short-term stock market is overbought and bonds are oversold, which suggests that the ratio of global stock markets to bond market investment returns will likely be corrected. In addition, the adverse impact of rising bond yields on the stock market cannot be ruled out.