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Stocks edged higher amid positive economic data and earnings - Thursday Review, May 6

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Miguel A. Rodriguez
Miguel A. Rodriguez
07 May 2021
The debate on the possible ongoing economic recovery continues

The US

Wall Street closed higher, boosted by a strong weekly jobless claim report, while vaccine makers dipped after President Joe Biden backed plans to waive patents on COVID-19 shots. USA30 added 0.93% hitting an all-time high, while USA500 gained 0.82%. TECH100 traded 0.37% higher.

Crude oil fell 1.19% to hit $64.85 per barrel.

Gold traded at $1,815.05 per ounce after it went up 1.72%.

The Dollar Index was down 0.43% at 90.903.

 

Asia and Australia

Stocks were mixed as major markets returned from holidays, focusing on whether the current economic recovery will cause inflation. HongKong45 was up 0.30%.

Japan225 jumped 1.98%.

Down under, Australia200 fell 0.51% as the New South Wales state reported new COVID-19 cases.

USD/JPY traded at 109.08 after it fell 0.09%.

 

Europe

Markets closed in the green, as investors focused on the mostly positive fresh round of corporate earnings, with the banking sector leading the way. Germany30 traded 0.6% higher, while France40 rose 0.5%. UK100 climbed 0.3%, reaching a 52-week high.

Brent oil fell 1.09% to trade at $68.21 a barrel.

EUR/USD was up 0.46% to 1.2061.

Sources: investing.com, reuters.com

This information/research prepared by Miguel A. Rodriguez does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. The research analyst primarily responsible for the content of this research report, in part or in whole, certifies that the views about the companies and their securities expressed in this report accurately reflect his/her personal views and consequently any person acting on it does so entirely at their own risk.The research provided does not constitute the views of KW Investments Ltd nor is it an invitation to invest with KW Investments Ltd. The research analyst also certifies that no part of his/her compensation was, is, or will be, directly, or indirectly, related to specific recommendations or views expressed in this report.The research analyst in not employed by KW Investments Ltd. You are encouraged to seek advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit that conforms to your specific investment objectives, financial situation, or particular financial needs before making a commitment to invest. The laws of the Republic of Seychelles shall govern any claim relating to or arising from the contents of the information/ research provided. 

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Miguel A. Rodriguez
Miguel A. Rodriguez
Financial Writer

Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano. He is a published author of currency trading books.