[서울경제TV=서정덕기자]All three major indexes on the New York Stock Exchange immediately reversed their upward trend as low-price buying flowed into market-friendly (dove) comments from Federal Reserve Bank of Atlanta President Rafael Bostic amid tightening fears .
On the 2nd (local time), the Dow Jones Industrial Average 30 closed at 33,003.57, up 341.73 points (1.05%) from the battlefield. The Standard & Poor’s (S&P) 500 index also rose 30.15 points (0.76%) to 3,981.54, and the Nasdaq index also rose 83.50 points (0.73%) to close at 11,462.98.
On this day (local time, the 2nd), the market was under strong downward pressure from the opening of the market as government bond yields increased dramatically due to fears of tightening in major countries.
The yield on 10-year Treasury bonds in the United States, which broke through 4% on the previous day (local time on the 1st), rose to 4.091% on this day and is now trading at 4.069%. Two-year government bond yields also rose to 4.994% during the midday period, the highest since July 2007 in 16 years.
The steep rise in government bond yields kept the market bearish.
In particular, the number of new jobless claims in the United States, which are counted every Thursday, contributed to the decline in the market.
According to the US Department of Labor, the number of new jobless claims filed last week was 190,000, a decrease of 2,000 from the previous week. In particular, the number of continuous jobless claims for unemployment benefits for at least two weeks also fell by 5,000 to 1.66 million.
In particular, the rate of increase in unit labor costs in the fourth quarter of last year was raised to 3.2%, almost three times higher than the previous estimate (1.1%), showing that wage pressure is continuously increasing.
This shows that the US job market is still robust, and is considered a justification for the continued tightening of the Federal Reserve System (Fed) to contain inflation promoted in the job market.
However, the market is taking a breather on the market-friendly Fed member’s comments.
The President of the Atlanta Fed, Raphael Bostic, announced that he supports an interest rate increase of 0.25%, calming the fear of the Big Step, and it is interpreted that the three major indexes of the New York Stock Exchange immediately increased as low price purchases flowed in.
International oil prices rose slightly. On this day, the price of West Texas Intermediate (WTI) for April delivery closed on the New York Mercantile Exchange at $78.16 per barrel, up $0.47 (0.6%) from the previous day. /smileduck29@sedaily.com
