The Dow Jones has made a modest ascent this morning, with a good start for financials offsetting poor unemployment data.
Figures released today showed more people claimed unemployment benefits last week than the previous. However, the Dow is still 23.05 points higher (0.25%) to 9302.21. Financial stocks are advancing on news the US Government will cut its budget deficit next week after removing a $250bn provision for further bank bail-outs, with Bank of America climbing 1.79% to $17.05 and JPMorgan Chase up 1.98% at $42.23. In the UK, the FTSE 100 has consolidated this morning’s gains, up 75.85 points (1.62%) to 4765.52. Thomas Cook leads the way on yesterday’s news Arcandor’s 53% stake could be sold...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
