The Wall Street sign is pictured at the New York Stock exchange in the Manhattan borough of New York March 9, 2020. — Reuters pic
Official data showed German manufacturers’ new orders plunged by a record 15.6 per cent in March, while payrolls firm ADP said the US private sector lost a staggering 20.2 million jobs last month, setting a dark scene for tomorrow’s official employment report. British Prime Minister Boris Johnson said he could begin to ease a nationwide coronavirus lockdown next week, while Belgium is to open shops on Monday.
“As the macro indicators become more of a factor, that’s going to create a bit of hesitancy on the part of the investors,” Cardillo added.Markets are girding for tomorrow’s US employment report, which is set to make history as the worst single-month job loss ever. The consensus forecast indicates the US lost 21 million jobs and unemployment ballooned from 4.4 per cent to 16.2 per cent, but some economists are forecasting a worse result.
The Dow Rose 211 Points Because Coronavirus Vaccines and Trade Talks Look Possible Published: May 7, 2020 at 5:45 p.m. ET By Evie Liu