The Dow Jones tried, and somewhat failed, to lift Europe into the green on Thursday afternoon, though the US open did help ease the morning’s losses.
The market’s main preoccupation this Thursday seems to be Donald Trump’s latest attacks on China, the President not letting up as he tries to win voters over by pinning the blame for the pandemic’s impact in the US on Beijing, rather than his own failings.
Investors, then, didn’t pay too much attention to wave upon wave of better than forecast flash manufacturing and services PMIs, not only in the US, but the Eurozone and UK as well. That might also be because, though they have certainly improved month-on-month, that’s not saying much given where they were at in April.
As for the usual weekly jobless claims, news of another 2.438 million Americans filing for unemployment didn’t really make its mark – then again, it hasn’t for a while, investors quickly acclimating to previously unprecedented data.
The Dow Jones was essentially flat after the bell, lurking just under 24600 – it is largely clung onto its Moderna Inc (NASDAQ:MRNA) vaccine and Fed stimulus-inspired gains from the start of the week, even with doubts about the former coming alongside the aforementioned US-China imbroglio.
In turn the FTSE trimmed its own losses to around 0.2%, roughly a fifth of what was seen at lunchtime. Like the Dow, the UK index has had a pretty good week all-told, and is trading above 6060.
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