New York Stock Exchange ends higher and boosts the European stock market

  •   06/04/2021 - 12h22
  •   HARMANT Adeline

After the New York Stock Exchange, which ended Monday's session in the green, it was the turn of the European stock markets to open in the green this morning. The rebound is due to the publication of indicators that are considered reassuring for the economy.

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New York Stock Exchange ends higher and boosts the European stock market

End of the session in the United States:

On Monday evening, the Dow Jones index climbed 1.13% to 33,527.19 points, breaking a new record. The S&P 500 index gained 1.44% to 4,077.78 points, also an all-time high. Finally, the Nasdaq Composite Index climbed 1.67% to 13,705.59 points.

The main reason for this was the growth in US services activity, which reached a new record high in March, following the announcement a few days ago that 900,000 non-farm jobs had been created, compared with a forecast of 647,000.

Among the stocks that benefited the most from this recovery was Tesla, which rose 4. 43% to $691.05 following the announcement of record deliveries.

The greenback was down 0.45% against a basket of currencies, a few minutes after the close of the Wall Street session and while the euro gained 0.39% to 1.1808 dollars.

 

The European stock exchanges follow the American movement:

This morning, it is the European stock markets that open in the green with a rise of 1.3% in London, 0.9% in Frankfurt and 0.7% in Paris. It would seem that it is the results of Wall-Street of the day before which are here in cause.

Note also that the Asian stock market is moving rather lower this Tuesday as the Chinese central bank has asked the country's main banks to limit the granting of new loans until the end of the year.

Several interesting indicators will be published this week and will demand investors' attention, including the European composite PMI indexes for March and the industrial production and trade balance in France and Germany for February. We already know the unemployment rate in the Eurozone which came out at 8.3% in February, unchanged from January and initially estimated by Eurostat at 8.1%.

 

Stocks to watch today and this week:

Several stocks are also in the news in Europe with BP gaining 3% on the London Stock Exchange after announcing its decision to resume share buybacks as it met its debt reduction target with asset disposals over the past three months.

We will also be watching Credit Suisse, whose two executives resigned following heavy losses due to its exposure to a U.S. hedge fund, and which is likely to weigh on its first-quarter results.