Bulls cheer as U.S. stocks continue on upward trajectory
30 Apr 2021, 06:10 GMT+10
NEW YORK, New York - U.S. stocks moved to record highs again on Thursday, spurred on by a raft of positive economic data, trillions of dollars in government stimulus, and historically low-interest rates, set to remain low for some time, according to the Federal Reserve following their monthly two-day meeting, which concluded on Wednesday.
The U.S. Commerce Department revealed on Thursday that the economy grew at an annual rate of 6.4 percent in the first quarter. The increase in first-quarter GDP (gross domestic product) reflected the continued economic recovery, reopening of establishments, and continued government response related to the COVID-19 pandemic, the department s Bureau of Economic Analysis said in the advance estimate.
2021Q1: $13,338
The first stimulus correlated to a growth of nearly $1.1 trillion in consumer spending. The second and third stimulus payments added only $339 billion in new spending. Perhaps we’ll see more of those impacts in Q2; after all, the most recent payment of $1400 came to people in the final month of the quarter, whereas the April 2020 stimulus payment came at the beginning. Still, $600 of it came right at the start, and despite it being half of the first stimulus payment amount, it only produced one-quarter of the bounce.
Another reason for worry is the 5% decline in gross private domestic investment. That follows two quarters of robust business investment (86.3% and 27.8%), although in annualized real-dollar terms, the Q1 number is still higher than the first three quarters of last year at $3.495 trillion. This seems like an unusual time for business investment to contract, as the vaccinations signal a surge toward reopening and the Biden administration proposes to ra
COVID-19 Has Changed The Economy For Good. Who Are The Winners And Losers?
04/29/21 AT 5:07 PM
The U.S. economy is getting back on its feet, but the COVID-19 pandemic has had some lasting changes. Comparing the latest economic data to where the economy would be in a theoretical world without the pandemic shows that money has shifted from services and fossil fuels toward tech and durable goods.
The most recent numbers come from the Commerce Department’s GDP analysis for the first quarter of 2021, courtesy of the Bureau of Economic Analysis.
It shows an economy just 3% below where it would be if it had maintained 2% growth instead of contracting during the pandemic. If things keep going on the current track, the U.S. is well on its way toward a full recovery.
U.S. stocks rise amid earnings, economic data
Xinhua
30 Apr 2021, 07:30 GMT+10
NEW YORK, April 29 (Xinhua) U.S. stocks finished higher on Thursday, buoyed by upbeat earnings reports and economic data. The Dow Jones Industrial Average rallied 239.98 points, or 0.71 percent, to 34,060.36. The S&P 500 rose 28.29 points, or 0.68 percent, to 4,211.47. The Nasdaq Composite Index added 31.52 points, or 0.22 percent, to 14,082.55. Nine of the 11 primary S&P 500 sectors ended in green, with communication services up 2.75 percent, leading the gainers. Health care and technology, however, struggled. On the corporate side, Facebook shares jumped 7.3 percent after the U.S. social media giant reported a blowout quarter.
Bullish U.S. stock markets soar to new heights
Lola Evans
30 Apr 2021, 06:10 GMT+10
U.S. stocks moved to record highs again on Thursday, spurred on by a raft of positive economic data.
The U.S. Commerce Department revealed the economy grew at an annualized 6.4% in the 1st quarter. The increase in first-quarter GDP reflected the continued economic recovery, reopening of establishments, and continued government response to Covid-19.
NEW YORK, New York - U.S. stocks moved to record highs again on Thursday, spurred on by a raft of positive economic data, trillions of dollars in government stimulus, and historically low-interest rates, set to remain low for some time, according to the Federal Reserve following their monthly two-day meeting, which concluded on Wednesday.