Wall Street stock prices on the plus with political news: “The stock market was driven by Washington’s sensible thinking that the government needs to be able to pay its bills”


New York

The main indices of the New York stock exchanges rose on Thursday as the U.S. Congress appeared to be approaching an agreement to raise the debt ceiling. This would ensure that the federal government does not have to be shut down. United States Secretary of the Treasury Janet Yellen has warned that the funds of the Ministry of Finance will run out on 18 October unless the debt ceiling is raised.

If Democrats and Republicans reach an agreement to move the debt ceiling, the deadline for raising the debt ceiling would shift to December. U.S. media reported Wednesday that the U.S. Senate minority leader, a Republican Mitch McConnell intends to offer a short-term debt ceiling raise.

Uncertainty about raising the debt ceiling nervous the stock market as early as September, when the broad S&P 500 index hit its worst monthly percentage decline since the pandemic froze business in March 2020.

“The stock market today was driven by Washington’s sensible thinking that the government needs to be able to pay its bills,” the chief investment officer Kim Forrest finance company Bokeh Capital Partnersilta commented to Reuters.

The price of natural gas, which has risen since the beginning of the week, began to fall sharply yesterday when the Russian president Vladimir Putin announced its readiness to supply more natural gas to Europe than before. The prices of oil futures, which rose sharply from the beginning of the week, also began to fall. After the stock markets closed, oil futures were on the rise again. Exxon Mobilin the share price rose 0.3 percent and Chevronin share 0.7 percent.

According to recent data, the number of new U.S. unemployment benefits turned down again last week after a three-week rise. According to preliminary figures, 326,000 new unemployment benefits were filed last week, compared to 364,000 a week earlier. Analysts ’median forecast for the number of new applications was 348,000.

Reuters reported that Apple is being prosecuted for breaches of EU competition law. This is the nfc technology used for local payment, which Apple has limited its devices to use only its own Apple Pay payment service. In the view of the European Commission, Apple is deliberately restricting competition by excluding others from its payment system. However, Apple’s stock rose 0.9 percent.

Instant messaging service Twitter the share rose 4.4 percent when the company said it was selling its holdings MoPublisted on the Nasdaq mobile advertising company Applovinto the company. Twitter bought MoPub in 2013 for just over $ 350 million and now sold it on for $ 1.05 billion. Applovin’s stock rose 10.3 percent.

The euro weakened against the US dollar after stock markets closed. The 10-year rate on U.S. government debt was on the rise after the stock markets closed and was quoted at 1.577 percent.

The Dow Jones index rose one percent, the S&P 500 index rose 0.8 percent and the Nasdaq index 1.1 percent.


Source: Arvopaperi by www.arvopaperi.fi.

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