Unemployment data is improving, US stocks opened slightly lower! Ruixing plunged by more than 10%, selling tide continued

Original title: Unemployment data is improving, US stocks opened slightly lower! Ruixing plunged by more than 10%, the selling tide continued Source: Tencent Securities
Tencent Securities May 21, US stocks opened slightly lower on Thursday, the United States last week, the number of jobless claims decreased by 249,000 to 2.438 million, the seventh consecutive week of decline, but higher than expected 2.4 million.
As of the opening, the Dow fell 41.29 points to 24534.61 points, a decrease of 0.17%; the Nasdaq fell 2.91 points to 9372.87 points, a decrease of 0.03%; the S & P 500 index fell 3.03 points to 2968.58 points, a decrease of 0.1%.
Baidu shares fell 1.5%. According to Reuters, three sources said that Baidu is considering delisting from Nasdaq to increase valuation. In this regard, Baidu officials responded that (delisting) related rumors. Ruixing shares plunged 10.3%, and plunged 35.76% last trading day. After suspension for more than a month, Luckin resumed trading on Wednesday after Nasdaq said it planned to delist the stock.
European stocks fell slightly, the European Stoxx 600 index fell 0.5%. As of the close, the Shanghai Composite Index fell 0.55% and the Shenzhen Component Index fell 0.94%. The Nikkei 225 index rose 0.21%, and South Korea’s Seoul Composite Index rose 0.44%.
Oil prices rose by more than 3%, due to the decline in US crude oil inventories, coupled with continued production cuts by OPEC and other oil-producing countries, alleviating market concerns about oversupply. WTI crude oil futures rose 3.2% to $ 34.55 per barrel. Brent crude oil futures rose 3.3% to $ 36.92 per barrel.
All 50 US states have restarted their economies, and the market expects that the US economy will soon recover from the recession, which raises short-term market risk appetite and bears the gold price. US COMEX gold futures fell 1% to $ 1734.55 per ounce. The dollar index rose 0.2% to 99.28 points.
2.44 million people applied for unemployment benefits in the US last week, falling for the seventh consecutive week
More than 2.4 million people applied for unemployment relief in the United States last week, indicating that two months after the new crown epidemic caused the epidemic blockade, large-scale job losses continue. According to data released by the US Department of Labor on Thursday, the number of people applying for unemployment relief for the first time last week in the United States decreased by 249,000 to 2.438 million, estimated at 2.40 million.
Although this number is still much higher than in any period before the outbreak of the new coronavirus, after setting a historical record of 6.9 million people in late March, this means that the number of initial jobless claims fell for the seventh consecutive week.
The previous week’s data revised down 294,000 people to 2.69 million, because the Connecticut labor department officials made a false increase in the number of the state. The blockade measures caused by the new crown virus have caused most areas of the US economy to close, and in the nine weeks since then, the total number of people claiming unemployment benefits has reached about 38.6 million.
Since peaking at the end of March, the historical rate of corporate layoffs has gradually slowed, but the unemployment rate has soared to its highest level since World War II, and is likely to get worse. Since the blockade measures caused by the New Corona Virus pandemic began in mid-March, approximately 35.5 million Americans have applied for unemployment benefits through their state, and approximately 9.2 million people have applied through the new federal program, which allows For the first time in history, freelancers and independent contractors are eligible to claim unemployment benefits.
The true number of unemployed cannot be known for certain, but according to government data released earlier this month, a total of 20.5 million workers were unemployed in April. The official estimated unemployment rate is 14.7%, but according to private analysis of government reports, the informal unemployment rate is expected to have soared to nearly 20%.
Before the outbreak of the New Coronavirus outbreak, the number of newly applied for unemployment benefits was only about 200,000. At that time, only about 1.7 million Americans were receiving benefits, and the unemployment rate was at a half-century low of 3.5%.
The longer it takes the United States to fully restart its economy, the more likely it is that millions of Americans who appear to be temporarily unemployed will become permanently unemployed. If this happens, the unemployment rate in the United States may remain at a high level of more than 10% by the end of the year, thus hindering the process of economic recovery.
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