Wall Street headlines inconsistent, Yellen says “Americans need pain to be relieved”


The main indices of the New York stock exchanges closed inconsistently on Friday.

Dow Jones rose 0.2 percent on a weekly basis, the broad S&P 500 index fell 0.3 percent and the technology-focused Nasdaq index fell 1.1 percent.

Weak labor markets and concerns about rising interest rates have weighed on the stock market this week. The number of new unemployment benefit applications announced on Thursday was clearly higher than expected.

However, investors still expect policymakers to go through the $ 1.9 trillion stimulus package.

United States Secretary of the Treasury Janet Yellen said in an interview with CNBC that Americans need more stimulus support.

“We think it’s very important to get an agreed package that eases the pain Americans experience – 15 million Americans haven’t paid their rent on time, 24 million Americans and 12 million children don’t get enough to eat, small businesses collapse,” Yellen told CNBC.

Speaker of the House of Representatives, Democrat Nancy Pelosi said on Thursday that the House of Representatives is trying to get through a $ 1.9 billion support package by the end of February.

Americans also expect interest rate vaccinations to strengthen the U.S. economic recovery in the second half of this year. In the United States, an average of 72,831 new corona infections were diagnosed daily each week, 44 percent less than the two-week average.

So far, 59.1 million coroner vaccines have been given in the United States, representing about 17.8 percent of the country’s population.

Machine manufacturer Deere & Co rose 9.9 percent as the company reported analysts’ better-than-expected interim results and revenue for the first quarter of its fiscal year.

The Dow Jones index fell short of direction (0.00%), the broad S&P 500 index fell 0.2 percent and the Nasdaq index rose 0.1 percent.

The 10-year interest rate on U.S. government debt was quoted at 1.340 percent after the stock market closed. One euro received $ 1.2120.


Source: Arvopaperi by www.arvopaperi.fi.

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