Wall Street On The Rise For Third Day After Upbeat Data
Thursday, 8 August 2019 23:32 WIB | MARKET UPDATE |Saham ASWallstreet

U.S. stocks surged on Thursday as better-than-expected domestic and Chinese data as well as a firming yuan offered some relief to investors alarmed by a week of blow and counterblow between Beijing and Washington over trade.

In corporate newsflow, Kraft Heinz sank 15% after it pulled its full-year forecast and wrote down the value of several business units by over $1 billion, capping a rough few months for the company and making it the S&P™s biggest decliner.

U.S. data pointed to a robust labor market as the number of Americans filing applications for unemployment benefits unexpectedly fell last week, allaying some worries about a recession and helping U.S. Treasury yields rise.

That followed better than expected export numbers out of China and some improvement for the country™s yuan currency, whose slide over the weekend spurred Wall Street™s worst day so far this year on Monday.

At 11:13 a.m. ET, the Dow Jones Industrial Average was up 161.46 points, or 0.62%, at 26,168.53, the S&P 500 was up 30.13 points, or 1.04%, at 2,914.11. The Nasdaq Composite was up 112.50 points, or 1.43%, at 7,975.33.

Source : Reuters

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