US closes higher on jobs data, debt limit deal

Thursday, 07. October 2021 22:00

Major stock markets in the United States closed higher again on Thursday after a deal to extend the debt ceiling until December was announced, cementing a strong open to the session triggered by positive jobs data. Cleveland Federal Reserve Bank President Loretta Mester reiterated that current headline inflation is being driven by transitory supply-side factors.

Meanwhile, former Treasury Secretary Steven Mnuchin called on the Federal Reserve to begin tapering bond-buying as it "has" to do it. Starry Inc. announced a SPAC deal to go public by merging with FirstMark Horizon Acquisition Corp. to be listed under the symbol "STRY".

The Dow rose 0.98% as UnitedHealth Group Inc gained 2.65%, while S&P 500 gained 0.83% with Freeport-McMoRan Inc jumping 8.23%. The Nasdaq 100 ended the session 0.88% in the green led by NetEase bouncing 8.29%. The euro dropped 0.06% against the dollar to change hands for $1.15517 at 3:58 pm ET.

Related Links: 
Author:
Breaking the News / IB