U.S. stocks rebounded after opening, with over 750,000 Americans applying for unemployment benefits for the first time in a week
CCTV Finance (Reporter Lu Bohui) On October 29, local time, after the previous day’s sell-off, U.S. stocks opened and rebounded. As of 10 am Eastern Time, the Dow Jones Industrial Average rose 32.45 points, an increase of 0.12%; the S&P 500 index rose 18 points, an increase of 0.55%; the Nasdaq composite index rose 106.85 points, an increase of 0.97%. On the same day, the first estimate released by the US Department of Commerce showed that the actual gross domestic product (GDP) of the US in the third quarter of this year increased by 33.1%at an annual rate. The analysis believes that the United States’ third-quarter GDP growth at an annual rate was based on a sharp drop of 31.4%in the second quarter. However, due to the recent worsening of the epidemic, the alarm facing the US economy is far from being lifted.
In addition, the data released by the US Department of Labor before the market on the 29th showed that in the week ending October 24, the number of people applying for unemployment benefits for the first time in the United States was 751,000, which was less than the market expected 775,000. . At present, as the epidemic worsens again, corporate bankruptcies and permanent unemployment increase, the momentum of the US economy is weakening. Economists generally believe that the outlook for the U.S. economy still largely depends on the trend of the epidemic and the policy actions taken by the U.S. government. The U.S. economy is unlikely to fully recover until people are convinced that it is safe to re-engage in a wide range of activities.
△Picture source:Getty Images
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(edited by Dai Yuanjun)