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Market Review. Despite the sluggish start, the New York Stock Exchange on Friday thanked the U.S. for good employment figures, marking the end of a week, marked by a rise in U.S. 10-year bond rates.
The Toronto Stock Exchange closed again during the day, losing ground as oil prices rose for two years, indicating that the economy is recovering faster than expected.
In Toronto, The S&P / DSX 255 points, or 1.41%, to 18,380 points.
In New York, The S&P500 73 points or 1.95% to 3,841 points.
The Dow Jones 572 points or 1.85% to 31,496 points.
The Nasdaq 196 points, or 1.55%, to 12,920 points.
The US dollar 0.06% to USD 0.7896.
The Oil 2.42 USD or 3.79% US $ 66.25.
L ‘Or It was $ 1.90, or 0.11% lower at $ 1,698.80.
Peter Cardillo of Spartan Capital Securities noted that as Wall Street began to disintegrate, the Nasdaq particularly reflects concerns about rising bond rates.
During the week, the Nasdaq advanced 2.06%, the Dow Jones 1.85% and the S&P 500 0.81%.
Strong employment in February was 379,000, three times higher than in January, and the unemployment rate fell to 6.2%.
These jobs were created mainly in bars and restaurants, but also in other activities related to entertainment and accommodation, as well as health services, retail and manufacturing.
“If bond yields stabilize where they are, that is, just above 1.50% for 10-year notes,” the market can say without risk that it has fallen.
Many observers have studied the rise in bond yields, which reached a one-year high of 1.62% in the morning as inflation is expected in the US with the economy restarting and the vaccine campaign.
Such a situation could push the Federal Reserve to modify its asset purchases and raise its key rates.
But his boss Jerome Powell again this week assured that he would not consider this option in the short term, as the price hike is considered temporary.
In the day’s activities, Tesla Following in its footsteps (-3.78%), it wiped out a capital estimate of more than $ 200 billion a month, while GM announced it was setting up its second battery plant in the United States.
All 11 sectors of the S&P 500 ended in the green, leading to energy as oil prices hit a two-year high.