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u.s. news Diabierna 16 aPriL 2021

US stocks rise to records on more proof of economic recovery

( AP ) - U.S. stocks are couraging read on the job
rallying toward records on market, showing 576,000
Thursday after a suite of people applied for unem-
encouraging data showed ployment benefits last week.
how hungry Americans That’s well below the 700,000
are to spend again, how that economists had fore-
fewer workers are losing cast and down from 769,000
their jobs and how much the prior week. It's also the
fatter corporate profits lowest the number has been
are getting. since the pandemic.

The S&P 500 was 1% higher Adding to the optimism,
at 4,164 in afternoon trading more big U.S. companies re-
and on track to surpass its ported even healthier profits
all-time high of 4,141.59 set for the first three months of
on Tuesday. The Dow Jones 2021 than analysts had fore-
Industrial Average was also cast. Expectations are already
on pace for a record, up 276 high for this earnings report-
points, or 0.8%, at 34,007. ing season, which unofficially
The Nasdaq composite was got underway on Wednesday
1.1% higher, as of 1:19 p.m. and could result in the stron-
Eastern time. gest growth in more than a
decade.
Expectations are very high on “You’ve got various pockets
Wall Street that the economy of the market now starting to
— and thus corporate profits show a broadening recovery,”
— are in the midst of explod- said Sameer Samana, senior
ing out of the cavern created global market strategist at
by the pandemic, thanks to Wells Fargo Investment In- could send bond prices tum- yields higher, but they largely
COVID-19 vaccinations and stitute. bling, hurt corporate profit shrugged it off. The falling yields helped
massive support from the margins and trigger volatility send financial stocks to some
U.S. government and Federal BlackRock, PepsiCo and across markets worldwide. Analysts still expect bond of the market's sharpest loss-
Reserve. Report after report UnitedHealth Group all re- yields to tick higher as the es, because lower long-term
on Thursday only bolstered ported bigger profits for the The bond market remained year goes on and the econ- interest rates limit the prof-
those expectations. first quarter than analysts ex- notably calm following omy continues recovering, its banks make from lending.
pected. BlackRock rose 2.2%, Thursday morning’s stron- along with investors shifting Bank of America fell 2.9%,
One report showed that U.S. PepsiCo gained 0.4% and ger-than-expected reports, money into sectors that will and Citigroup slipped 0.3%,
retail sales jumped 9.8% in UnitedHealth climbed 3.6%. and longer-term yields ac- see a greater benefit from the for example, even though
March from February, blow- tually fell to the surprise of recovery. both in the morning reported
ing past economists’ forecasts Even Delta Air Lines, which some analysts. The yield on stronger profits for the first
for 5.5% growth. Much of reported weaker results for the 10-year Treasury dropped “When you’re thinking about three months of 2021 than
the surge was due to $1,400 the start of 2021 than ex- to 1.55% from 1.63% late GDP growth, it’s really expected.
payments from the U.S. gov- pected, highlighted areas of Wednesday. Earlier this hard to see why the 10-year
ernment’s latest economic optimism. It said it could re- month, it had gotten as high shouldn’t be higher,” Samana In European stock markets,
rescue effort hitting house- turn to making profits by late as 1.75%. said. Germany's DAX returned
holds’ bank accounts. Econ- summer if the recovery it’s 0.3%, and France's CAC 40
omists said it shows how seeing in air travel continues. It’s reminiscent of what The surprising reaction may rose 0.4%. The FTSE 100 in
primed people are to spend Its shares fell 4.2%. happened earlier this week, be a result of how unpredict- London gained 0.6%.
as the economy reopens and when a report on the Con- able data can be as the pan-
conditions brighten. That’s With growth expectations so sumer Price Index came demic and government ef- In Asia, Japan's Nikkei 225
huge for an economy that’s high, some investors are wor- in higher than expected. It forts to counteract it distort rose 0.1%, South Korea's
made up mostly of consumer ried about the possibility that would have made sense if the everything. And, for now Kospi gained 0.4% and Hong
spending. inflation could swing upward worse-than-expected infla- at least, the numbers seem Kong's Hang Seng slipped
and stay high. If it were to tion report had caused inves- to be pointing toward more 0.4%. Stocks in Shanghai fell
Another report gave an en- sustain itself, high inflation tors to sell bonds and send strength. 0.5%.

Boston marks 8 years since marathon bombing killed 3 people

( AP ) - Boston is mark- bombing at the 2013 Bos- people and injured scores a few hundred yards away. Dzhokhar Tsarnaev after a
ing eight years since the ton Marathon killed three of others. federal appeals court tossed
Janey will then join Gov. out the penalty last summer.
Acting Mayor Kim Janey on Charlie Baker later Thursday
Thursday visited fire stations to lay wreathes at the bomb- Tsarnaev and his older broth-
that had been critical in the ing sites where 29-year-old er, Tamerlan, also fatally shot
response to the attack, as well Krystle Campbell, 23-year- MIT Police Officer Sean
as the memorials marking the old Lingzi Lu, and 8-year-old Collier in Cambridge in the
spots where the two pressure Martin Richard died, ensuring manhunt.
cooker bombs detonated near
the downtown finish line of The city also marks each April The Boston Marathon is tra-
the storied race. 15 with “ One Boston Day,” ditionally held on the third
a day where acts of kindness Monday of April, a holiday
Janey's office said there will and service are encouraged. known as Patriots Day in
also be a citywide moment of Massachusetts. It was held
silence at 2:49 p.m., marking The U.S. Supreme Court last virtually last year and has
the time when the first bomb month said it’ll consider re- been moved to October this
detonated, followed seconds instating the death sentence year because of the ongoing
later by the second explosion against marathon bomber pandemic.