[New York Close] Stocks Mixed... Oil Prices Down for the First Time in 6 Days

[Image source=Reuters Yonhap News]

[Asia Economy New York=Correspondent Baek Jong-min] The New York stock market closed mixed. Although large-scale unemployment statistics were released, expectations for economic reopening limited the decline. International oil prices reversed to a decline after 6 days.

On the 6th (local time) at the New York stock market, the Dow Jones Industrial Average fell 218.45 points (0.91%) from the previous day to close at 23,664.64, the S&P 500 index dropped 20.02 points (0.70%) to 2,848.42. The Nasdaq index closed up 45.27 points (0.51%) at 8,854.39.

The economic indicators released that day reflected the worst unemployment situation. According to the ADP National Employment Report, U.S. private employment decreased by 2,236,000 in April. This is the worst figure since the survey began in 2002. The previous record decrease was 834,665 in February 2009.

The ADP report predicts that the Labor Department's employment statistics to be released on the 8th may contain surprising figures. On the same day, James Bullard, President of the Federal Reserve Bank of St. Louis, expressed concern that the April unemployment rate could soar above 20%.

By stock, ride-sharing company Lyft, which has been hit by COVID-19, attracted attention by announcing strong earnings and seeing its stock price rise by 15%.

At the New York Mercantile Exchange (NYMEX), West Texas Intermediate (WTI) crude oil for June delivery closed down 2.3% ($0.57) at $23.99 per barrel. This is the first decline in June WTI in 6 trading days.

International gold prices fell slightly. On the same day at the New York Commodity Exchange, June delivery gold closed down 1.3% ($22.10) at $1,688.50 per ounce.

This content was produced with the assistance of AI translation services.