The Dow Jones Futures Index rose nearly 300 points today, indicating that the Wall Street stock market will rebound tonight. Respond to the strong disclosure of US listed companies.
In addition, investors are keeping an eye on the disclosure of the minutes of the Federal Reserve’s Fed monetary policy meeting on April 28-29 in order to find interest rate signals. And the US economy
At 19.59 hrs., According to Thai time, the Dow Jones Future Index added 292 points or 1.21% to 24,450 points.
The Dow Jones index dropped almost 400 points last night. Amid concerns about the effectiveness of the vaccine against the cow-19
Lowe, a major US home decor company And a competitor of Home Depot, Inc. revealed higher-than-expected profits and revenue in the first quarter
Low has revealed that the company posted a profit of $ 1.77 / share, higher than analysts expected at $ 1.32 / share.
In addition, revenue is at a level of 19.968 billion dollars. Higher than analysts had expected at 1.832 billion dollars
At the same time, the company increased sales by 11.2%, higher than the forecast of 3.3%.
Target, a US-based retailer, said the company had higher-than-expected profits and revenue in the first quarter.
However, Target stated that The company had a profit of 59 cents / share, higher than analysts had expected at 40 cents / share.
In addition, the company reported revenue of $ 19.1 billion Higher than analysts had estimated at $ 90.9 billion
At the same time, the company increased sales by 10.8%, driven by online sales. Which rose 141%
The Bureau of the Budget of the United States Congress (CBO) revealed the US economic outlook report today. By predicting that The US economy will face stagnation. Affected by the outbreak of the Covid-19 virus
The report states that US Gross Domestic Product (GDP) in 2Q2020 will shrink by 38% and will have 26 million more unemployed compared to the end of last year.
If the US economy contracted 38% in the second quarter, as CBO predicted, it would be a record deep recession. While the economy was halted by government lockdown measures to prevent the outbreak of the Covid-19 virus.
However, the CBO said the economy will recover in the second half. While the government relaxed the lockdown measures After relieving anxiety about the Covid-19 virus While employment will recover in the third quarter
Congress approves businesses and people affected by the covid-19 virus outbreak, with a budget of around 3 trillion dollars. And is currently considering another law bill This may amount to more than 3 trillion dollars. As a result, the CBO estimates that the government will face a budget deficit of $ 2.1 trillion in fiscal year 2020 and another 60 billion dollars next year. Which is equivalent to 11% of GDP this year and 3% next year