US Stocks Surge On Recovery Hopes, S&P 500 breaches 4000 mark

April 01, 2021 08:17 PM PDT | By Team Kalkine Media

Google News:

US Stocks Surge On Recovery Hopes, S&P 500 breaches 4000 mark

Recent News

Edimakor V4.0.1 Revolutionizes Digital Creation With Powerful Ai Image...

Argyle Expands Verification Platform To Include Verification Of Assets...

Floify’s Sofia Rossato Named To Inman’s Best Of Finance List For 2025

Sundog Electric Llc Delivers Reliable, Professional Electrical Service...

Summary

All the three benchmarks ended trading on Thursday higher.

Jobless claims during the week ended March 27 increased to 719,000.

Biden’s US$2 trillion infrastructure funding plan includes US$621 billion for transportation, US$300 billion for manufacturing industry and US$213 billion for affordable housing.

All major US stock indices closed higher on Thursday, April 1, 2021, with the S&P 500 crossing the 4000 mark for the first time, boosted by renewed optimism of faster economic growth over President Joe Biden’s massive US$2 trillion infrastructure spending proposal.

The S&P 500 grew 1.18 percent to 4019.87. The Dow Jones Industrial Average was up 0.52 percent to 33153.21. The NASDAQ Composite Index rose 1.76 percent to 13480.11, while the small-cap Russell 2000 rose 1.50 percent to 2253.90.

The U.S. Department of Labor said jobless claims during the week ended March 27 increased by 61,000 claims to 719,000, compared to the figure a week before. The four-week moving average was 719,000, the lowest since March 14, 2020, when it was 225,500.

Biden’s US$2 trillion package proposes US$621 billion to repair roads and bridges, and modernize public transits, including US$174 for electric vehicles. The proposal also includes US$300 billion investment in manufacturing industry, US$213 billion for affordable housing and $100 billion for high speed broadband access.

The stock market will be closed for the Good Friday holiday on April 2.

©Kalkine Group 2021.

Top Gainers

Top performers on S&P 500 included Diamondback Energy Inc. (10.52%), Marathon Oil Corp. (10.39%), Devon Energy Corp. (7.55%) and Lam Research Corp. (7.40%).

Liberty Tripadvisor Holdings Inc. (83.78%), Uxin Ltd. (68.38%), Applied Molecular Transport Inc. (44.44%) and Kelly Services Inc. (33.63%) were top performers on NASDAQ.

On Dow Jones, Salesforce.Com Inc. (3.23%), Microsoft Corp. (2.79%), Visa Inc. (2.42%) and Walt Disney Co. (2.41%) gained the most.

Top Losers

Top laggards on S&P 500 were Carmax Inc. (7.05%), PVH Corp. (4.47%), Ralph Lauren Corp. (2.61%) and DaVita Inc. (2.16%).

AzurRx BioPharma Inc.(23.88%), Recon Technology Ltd. (20.37%), Wah Fu Education Group Ltd. (17.44%) and Akumin Inc. (17.30%) were among the top losers on NASDAQ.

On Dow Jones, UnitedHealth Group Inc. (1.34%), Johnson & Johnson (0.92%), Procter & Gamble Co. (0.85%) and Boeing Co. (0.69%) were laggards.

Image Source: Refinitiv, S&P 500 April 1, 2021 price chart

Volume Movers

Top volume movers are Uxin Ltd. (39.23M), Apple Inc. (15.49M), Future Fintech Group Inc. (14.99M), ViacomCBS Inc. (13.73M) and Ford Motor Co. (11.76M)

Futures & Commodities

Gold futures were up 0.83 percent to US$1,729.80 per ounce. Silver rallied1.72 percent to US$24.953 per ounce while copper grew 0.33 percent to US$4.0085.

Brent oil futures rose 3 percent to US$64.62 per barrel and WTI crude jumped 3.62 percent to US$61.30 per barrel.

Bond Market

The 30-year Treasury bond yields fell 3.62 percent to 2.335 while the 10-year bond yields were down 4.05 percent to 1.675.

US Dollar Futures Index was down 0.32 percent to US$92.935.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media LLC (Kalkine Media, we or us) and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures/music displayed/used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it, as necessary.