US equities post modest weekly gains amid COVID concerns, mixed data

14

New York, June 21 | US stocks eked out modest weekly gains as investors digested a slew of key economic data while grappling with fears of a resurgence in coronavirus infections across the country.

For the week ending Friday, the Dow rose 1 per cent, the S&P 500 gained 1.9 per cent and the Nasdaq climbed 3.7 per cent, Xinhua news agency reported on Saturday.

The S&P US Listed China 50 index, which is designed to track the performance of the 50 largest Chinese companies listed on US exchanges by total market cap, logged a weekly advance of 7 percent.

High volatility returned to Wall Street as many investors were still skeptical as to when and if the markets would recover.

A spike in new coronavirus cases in several US states has raised questions about a swift economic recovery from the COVID-19 pandemic.

More than 2.2 million confirmed COVID-19 cases have been reported in the United States, with over 119,000 deaths, as of Saturday afternoon, according to the Center for Systems Science and Engineering at Johns Hopkins University.

“The volatile stock market, record unemployment, and uncertainty about the future are all driving investor fear and panic,” analysts at Zacks Investment Management said in a note.

Market sentiment was somewhat mixed as the week featured a disappointing US weekly jobless report and better-than-anticipated May retail sales data.

US initial jobless claims registered 1.508 million in the week ending June 13, down slightly from an upwardly revised 1.566 million in the prior week, the Department of Labor reported Thursday. Economists polled by Dow Jones had expected 1.3 million initial claims for the week.

“It marks 11 consecutive weeks of declines in the claims rate, but suggest claims are leveling off at a level never seen before the Lockdown Recession,” Chris Low, chief economist at FHN Financial, said in a note on Thursday.

US retail sales soared 17.7 per cent in May, following a revised 14.7 per cent slump in April, the US Department of Commerce reported on Tuesday. The reading exceeded market consensus.

“Due to recent events surrounding COVID-19, many businesses are operating on a limited capacity or have ceased operations completely,” the department said in a statement.

Investors also digested the US Federal Reserve’s latest measures to support market liquidity amid the COVID-19 pandemic.

The Fed said Monday it would begin buying individual corporate bonds under its Secondary Market Corporate Credit Facility.

Source: IANS

Sponsors Posts

Nirman Nagar Kajarwara Jabalpur by One Realty Developers - BhaskarProperty.com

Nirman Nagar Kajarwara Jabalpur by One Realty Developers - BhaskarProperty.com

Reliability, Quality, Assurance, and Authenticity have always been pillars of One Realty Developers. Reaching new heights every year and catering to the masses ever since 2011, we bring you NIRMAN NAGAR a 9 Acres affordable housing Township in Kajarwara just 4.8 km from Sadar.

In NIRMAN NAGAR we bring you an array of affordable housing options to choose from Plots, 2 BHK singlex, and 4 BHK duplex. Three beautifully landscaped gardens with amenities like a children’s play area, water fountain, and a badminton court.

The drainage system is Hi-tech and fully underground so are the security and surveillance system in the township. This RERA-approved township has tie-up with all major banks for the finance facility. We believe that the cornerstone of any great structure is a great idea and that one of the greatest joys of life is to see your idea brought to life before your own eyes. This is the Endeavor One Realty Developers undertake, to bring your ideas from abstract concept to solid reality.

Singlex & Duplex Specification

FRAMEWORK RCC framed structure. SUPERSTRUCTURE Conventional brick masonry.

DOORS Main Door – Teak wood frame & shutter. Internal Doors – Sal wood frame and Flush door, PVC door for the toilet.

WINDOWS Anodized aluminum windows with grills.

FLOORING Vitrified tiles flooring with skirting in living/dining and all bedrooms. Anti-skid ceramic tile flooring in toilets, balconies, and utility areas. Paver blocks for car portico.

KITCHEN Granite countertop with ceramic tile dado up to 2 feet above the counter and stainless steel sink (Single bowl, single drain) Ceramic tile cladding in the wash area. Provision of the aqua guard water point.

WALL FINISHES All interior walls with a smooth finish and Acrylic emulsion paint over Birla / JK cement putty. All exterior walls with cement-based exterior paint of Apex or equivalent. Plaster of Paris / molding work in drawing and dining area.

TOILETS/ BATHS European WC’s washbasins of Hindware / Parryware or equivalent make. Provision for a shower in toilets.

POWER Concealed copper wiring of standard make. Power plugs in all necessary areas. Electrical fittings and fixtures of Anchor / Roma or equivalent make. Provision of points for the electric chimney, exhaust fans in kitchen bathrooms, air conditioners in rooms.

COMMUNICATIONS Telephone &Internet points in the living room. CABLE Provision for cable TV in the living room and all bedrooms.

For more details please click here or visit bhaskarproperty.com

Current Projects of One Realty Developers
Nirman Nagar Jabalpur, Kajarwara, Jabalpur

Projects Delivered by One Realty Developers
Aura City Jabalpur, Barela, Jabalpur
Nirvana City Jabalpur, Barela, Jabalpur
Gulmohar Greens Jabalpur, Barela, Jabalpur
Nirvana Exoticaa Jabalpur, Nirvana Exoticaa – Phase 1 & 2, Barela, Jabalpur

For more details please click here or visit bhaskarproperty.com

LEAVE A REPLY

Please enter your comment!
Please enter your name here