To read further, please register free and login
[s2If !current_user_can(access_s2member_level1)][lwa][/s2If] [s2If current_user_can(access_s2member_level1)]

Market Update: US Stocks Finish Lower
US stocks pared back some losses but finished in the red on Thursday after upbeat labour and services data pointed to a strong and continued economic recovery, raising concerns of an early Fed tapering. The ADP report showed US companies added the most jobs in 11 months, initial claims fell below 400K and services PMIs from both ISM and Markit showed a record expansion in the services sector. The highly anticipated jobs report due Friday will provide a more clear picture of the recovery. Meanwhile, the Washington Post reported that President Biden proposed a new 15% minimum tax rate for corporations instead of raising it to 28%, aiming to gain Republican support for an infrastructure package. On the corporate front, shares of AMC sank 20% after the company announced plans to raise money by selling more shares. The Dow lost 23 points to 34577, the S&P 500 15 points to 4193 and the Nasdaq sank 142 points to 13615. [/s2If]
Join Our Telegram Group