Wall Street is breaking a four-day losing cycle. The dollar is falling because we haven’t seen it since 2020 – Stock Exchange

Wall Street is breaking a four-day losing cycle.  The dollar is falling because we haven’t seen it since 2020 – Stock Exchange

Wall Street ended the session higher, causing the three major indices to break out of a four-day cycle of losses.

The Dow Jones Industrial Average rose 1.26% to 3,2403.22 points, while the S&P 500 rose 1.36% to 3,770.55 points. The Nasdaq Technology Index accumulated 1.28% to 10,475.25 points.

The session was marked by the release of employment figures, on a day when investors are still seeing a drop in the dollar’s strength index, as not seen since March 2020.

US companies created 261,000 jobs in October, after the number exceeded estimates (200,000). The unemployment rate, in turn, rose to 3.7%, outpacing September’s 3.5% rate. Since April, the unemployment rate has ranged between 3.5% and 3.7%.

Among the major market moves, Coinbase bonds ended the day 5.41% higher, after gaining more than 13% during the session. Despite losing $545 million, investors were encouraged by the number of monthly users who executed transactions that beat expectations (albeit less than the previous two quarters).

Microsoft stood out among the “big tech companies”, with a gain of 3.33%, with the computer giant benefiting from a weak dollar, as much of its sales are outside the United States.

“This week is a reminder of the extreme volatility and emotional experience for investors that is likely to last most of the year,” says Mark Hackett, head of research at Nationwide.

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By Andrea Hargraves

"Wannabe internet buff. Future teen idol. Hardcore zombie guru. Gamer. Avid creator. Entrepreneur. Bacon ninja."