Positive economic data are driving up the stock markets

Published on: 24-Aug-2020
Category: Trading
Last updated: 24-Aug-2020

Positive economic data are driving up the stock markets

In the USA, positive economic data resulted in a positive end of the week on the stock exchanges, and the stock market sentiment seems to be holding up well into the new week, as the future on the S&P 500, which is up 0.3 percent, reveals. The US leading index Dow Jones rose 0.7 percent to 27,930 points at the close of trading on Friday. The tech index Nasdaq gained 0.4 percent to 11311 points last week and the broad S&P 500 was able to record an increase of 0.3 percent to 3397 points. With that, the technology index and the S&P 500 went out of trading with a new record on Friday.

Investors see new economic data as a sign of economic recovery in times of crisis. The service sector and the US manufacturing industry saw an increase in orders. Purchasing managers' indices, which give a general overview of the economic situation, have exceeded the expectations of experts and the real estate market appears to be experiencing an upswing after the crisis.

Due to the uncertain situation resulting from the presidential election, there is no clear signal for investors from politics. First, the Democrats have to agree with the White House on a new Corona aid law.

The Asian stock exchanges are also currently receiving positive news. There is hope for a new treatment option for coronavirus infections from blood plasma. The American Food and Drug Administration (FDA) has approved a new method for use with blood plasma. The race to find the fastest vaccine approved also gives investors confidence. In the USA, the election campaign in particular is causing an overturned race. The Japanese leading index took the news positively and was able to rise by 0.3 percent to 22997 points on Monday. The broader Topix index is up 0.2 percent at 1608 points. In China, the CSI 300 index, which tracks the prices of the two largest stock exchanges from Shanghai and Shenzhen, posted a gain of 0.94 percent at 4764 points. The Shanghai Stock Exchange is currently at a plus of 0.23 percent.


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