*OPEC + is expected to extend the production reduction agreement for two oil to a three-month high
In the middle and late March, when the States began to implement the home-based order, the Dow, S & P and Nasdaq lost 35%, 30% and 25% in the year. Under the optimistic expectation of economic restart, the NASDAQ took the lead in recovering the land lost by the epidemic. As of Friday, the stock index has gained 9.3% since the beginning of the year, while the Dow and S & P have lost 5% and 1.1% in the year.
Apple Rose 2.85% Friday to close at $331.50, a record high. Webush securities analysts have raised the companys target price from $350 to $375, with Apples service revenue continuing to grow during the outbreak, and expect it to rise to as high as $425 in a bull market. On the other hand, Credit Suisse analysts raised Apples target price from $260 to $295, maintaining the hold rating unchanged.
US airlines rose more than 80% in a month
In the first month of economic restart, the air, cruise and retail sectors rebounded. American Airlines ended up 11.2% Friday, United Airlines ended up 8.5%; carnival cruises rose 16.4%, Royal Caribbean Cruises rose 20.4%; Kohl department store ended up 11%.
Boeing led the Dow up 11.46% to $205.43. Boeings share price has risen more than 40% in the past month, boosted by optimistic expectations of resumption of work. Boeing will release the order data of May next week, and Airbus, a European competitor, will have zero new orders in May.
On July 4, American Airlines said it planned to increase the number of flights to 55% of last years capacity in the same period, a significant increase from 20% in May. Vasu Raja, senior vice president of American Airlines, said that domestic flight demand is slowly and steadily picking up, and made a resumption plan after careful analysis of the data. According to foreign media reports, the average daily passenger flow of American Civil Aviation was only 32000 in April, doubled to 78000 in May 1-23, and further rebounded to 110000 in May 24-29. Other airlines are also resuming their flights. The capacity of United Airlines, Delta Airlines and Southwest Airlines in June is 25% higher than that of last month.
At the same time, the news is also good for aviation stocks. According to Xinhua news agency, from June 8, all foreign airlines not listed in the phase 5 flight plan can select a Chinese port city with reception capacity to operate one international passenger route every week within the scope of our business license. On Friday, the U.S. government canceled plans to ban Chinese passenger airlines from flying to the United States.
Us non agriculture surged 2.5 million in May, the largest increase in history
In May, the non-agricultural employment population in the United States surged by 2.509 million, the largest monthly increase since records began in 1939. The expected value is 8.33 million less than the previous value of 20.54 million. The unemployment rate fell to 13.3% after the market expected it to break the Great Depression record of 19.5% last month. According to the data of the Ministry of labor, a large number of temporary unemployed people have returned to work. According to the industry breakdown, the leisure hotel industry has contributed half of the growth rate, with 1.2 million new jobs. In April, the industry lost 7.5 million jobs, followed by the construction industry, with 464000 new jobs.
As of May 12, most states in the United States did not restart their economy until the first week of May. The rebound speed of the employment market made Wall Street shudder. Peter Tuchman, a New York stock exchange trader, said in an exclusive interview with first finance and economics that it was not clear why the working population had such a rebound, but he was more concerned about the sustainability of the rebound. More than 40 million Americans lost their jobs in ten weeks, and more than 2 million returned to work in May. Is the ten week layoff temporary? Or is it temporary? Can the remaining about 38000000 be re employed? Thats more important.
OPEC + is expected to extend the production reduction agreement, with two oil companies rising to a three-month high
Foreign media reported that the Russian energy ministry said OPEC + would hold a video conference on Saturday to discuss whether to extend the current record production reduction agreement. Two sources said Saudi Arabia and Russia have agreed to extend the current production reduction agreement to the end of July.