Wall Street closes in positive territory after bank balance sheets – Analyst sees “megacycle” for Caterpillar

Frankfurt, New York Encouraging company figures and robust economic data put the Dow Jones Industrial on a recovery course on Thursday. Like all other highly regarded indices, the Dow closed significantly in positive territory. Surprisingly, the situation on the labor market has improved significantly. The number of weekly initial jobless claims fell below 300,000 for the first time in the Corona crisis.

The leading index Dow rose after a few cloudy days by 1.56 percent to 34,912 points. The S&P 500 gained 1.71 percent to 4438 points. For the technology-heavy Nasdaq 100, it went up 1.88 percent to 15,052 points.

“Investors have generally looked forward to a largely positive earnings season,” said David Swank, portfolio manager at Hood River Capital Management. Overall, it doesn’t look bad so far.

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