US corona package at a glance: DAX climbs to 10,000 points – US labor market data irrelevant? | message

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The DAX started XETRA trading deeper and moved on red terrain for a long time. In the afternoon there was additional pressure with negative US labor market data and the leading index slipped even more significantly. With the nevertheless positive price data, according to the US Treasury Secretary, Wall Street in the back, the DAX was able to turn positive in late trading and close by 1.28 percent at 10,000.16 points. The psychologically important hurdle marks the daily high at the same time.

US job applications irrelevant?

The weekly numbers of initial jobless claims in the US paint a bleak picture. The Corona crisis struck there significantly: The number of initial applications rose to 3.28 million. Experts had anticipated 750,000 in the run-up to 281,000 in the previous week.

Meanwhile, US Treasury Secretary Steven Mnuchin has relativized the historic jump in initial jobless claims. One should not focus on this data because it was created before the U.S. government’s aid measures were decided, Mnuchin said in a CNBC interview. “To be honest, I don’t think these numbers are relevant at the moment, whether they are larger or smaller in the short term.” This helped the stock markets overseas and ultimately in this country to a plus.

The novel corona virus is spreading faster and faster in the USA, especially in New York. The multi-billion dollar stimulus package adopted by the US Senate will help cushion the slump in economic performance in the US, wrote CMC Markets analyst Jochen Stanzl. But even with this package, the largest economy in the world is still facing enormous damage.

Editorial office finanzen.net / dpa-afx

Image sources: Sebastian Kaulitzki / Shutterstock.com



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