This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.bbc.co.uk/news/business-40117363
The article has changed 5 times. There is an RSS feed of changes available.
Version 0 | Version 1 |
---|---|
Dow soars on US climate deal withdrawal | |
(about 5 hours later) | |
Wall Street closed higher on Thursday following confirmation of President Trump's plan to withdraw from the Paris climate deal. | |
Several business executives had argued against the move, but President Trump said it would be good for the US economy. | |
The Dow Jones Index ended 135 points higher at 21,144. | |
Business leaders including GE's chief executive Jeff Immelt criticised the move. | |
Mr Immelt said he was "disappointed". Elon Musk, founder of Tesla, confirmed he would leave the President's advisory council in response to the move. | |
Earlier in the day positive numbers on hiring in the private sector had also boosted share prices. | |
The Nasdaq Composite broke through to a new record high, and closed 48 points or 0.7% higher at 6,246. | |
The broader S&P 500 also reached a new high, closing up 18 points or 0.76% at 2,430. | |
The ADP jobs report showed private payrolls increased by an unexpectedly high 253,000 in May. | The ADP jobs report showed private payrolls increased by an unexpectedly high 253,000 in May. |
The private sector jobs numbers are more volatile than the non-farm payroll figures out tomorrow, but the markets are seeing them as a positive indicator for the economy. | The private sector jobs numbers are more volatile than the non-farm payroll figures out tomorrow, but the markets are seeing them as a positive indicator for the economy. |
Stronger jobs numbers would increase the chances of an increase in interest rates at the next meeting of the Federal Reserve on 14 June. | Stronger jobs numbers would increase the chances of an increase in interest rates at the next meeting of the Federal Reserve on 14 June. |
Separately, the Institute for Supply Management said its index of national factory activity ticked up to 54.9 last month from 54.8 in April. | Separately, the Institute for Supply Management said its index of national factory activity ticked up to 54.9 last month from 54.8 in April. |
West Texas Intermediate Crude Oil fell slightly. It was down $0.23 or 0.5% at $48.09 a barrel. | |
American Express shares closed 1.7% higher after it won a bid to become the exclusive credit card issuer for Hilton - the first new deal it has signed since 2015. | |
Shares in telecoms group Verizon closed 0.28% lower after reports emerged that its $100bn bid for the cable TV giant Charter had been turned down. |