Dow jumps over 500 pts at close despite weak jobs report

Thursday, 23. September 2021 22:01

The United States major equities closed with gains on Thursday as fears of a collapse of a Chinese developer Evergrande subsided and the Federal Reserve kept its supportive monetary policies for longer. The optimistic sentiment among investors was strong even despite a worse-than-expected report with 16,000 more jobless claims than last week.

Business software company Salesforce led the markets after increasing its full-year sales forecast as the continuing pandemic conditions push more businesses into using cloud-based services. Meanwhile, the US private sector expanded at a slower pace reaching a 12-month low.

The Dow closed with 1.48% in the green as Salesforce surged by 7.21%, while the S&P 500 jumped 1.21% with Devon Energy soaring 7.75%. The Nasdaq 100 climbed 0.92% led by Marriott International advancing by 3.88%. The euro increased by 0.46% against the dollar exchanging hands for $1.17419 at 3:59 pm ET.

Related Links: 
Author:
Baha Breaking the News (BBN) / LH