Gas outages spread over more than a dozen states after the Colonial Pipeline cyberattack. FOX Business’ Lydia Hu with more.
U.S. equity markets rallied Thursday as investors shrugged off the biggest annual increase in producer prices on record.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 33823.63 | +235.97 | +0.70% |
| SP500 | S&P 500 | 4095.55 | +32.51 | +0.80% |
| I:COMP | NASDAQ COMPOSITE INDEX | 13166.183154 | +134.50 | +1.03% |
The Dow Jones Industrial Average gained 80 points, or 0.25%, while the S&P 500 and the Nasdaq Composite were higher by 0.6% and 1.14%, respectively.
The gains come after the Labor Department said producer prices rose 6.2% year over year, making for the biggest annual jump since recordkeeping began in November 2010. Prices rose 0.6% for the month, slowing from March’s 1% increase. Both numbers were above analysts’ expectations.
Separately, jobless claims fell to a fresh pandemic low coming in at 473,000 below last week’s 498,000. Still, a record 8.1 million job openings continue to make hiring a challenge. On Thursday, McDonald’s announced plans to boost pay for 36,500 workers by 10% on average.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| MCD | MCDONALD’S CORP. | 228.70 | +0.76 | +0.34% |
USED CAR AND TRUCK PRICES SOAR BY MOST ON RECORD
In stocks, recently beaten down mega-cap tech names, including Apple Inc. and Microsoft Corp. saw some reprieve as the Nasdaq outperformed.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AAPL | APPLE, INC. | 125.05 | +2.28 | +1.86% |
| MSFT | MICROSOFT CORP. | 242.96 | +3.96 | +1.66% |
Elsewhere, Tesla CEO Elon Musk said his company will no longer accept bitcoin as payment for its vehicles due to the “increasing use of fossil fuels” for its mining. The electric-car maker will continue to hold its bitcoin and plans on using the cryptocurrency for transactions once mining becomes more sustainable.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| TSLA | TESLA, INC. | 595.65 | +5.76 | +0.98% |
Meanwhile, Boeing Co. received Federal Aviation Administration approval for an electrical fix to an issue that resulted in about 100 737 Max jets being grounded in early April.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| BA | THE BOEING CO. | 225.94 | +5.31 | +2.41% |
In earnings, Bumble Inc. beat on both the top and bottom lines and guided above Wall Street expectations as more people used the dating app while riding out the COVID-19 pandemic from home.
In commodities, West Texas Intermediate crude oil plunged $1.84 to $64.24 as the Colonial Pipeline restarted after hackers knocked it offline for five days. Elsewhere, gold slipped $5.50 to $1,817.30 an ounce.
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Overseas markets were sharply lower.
In Europe, Britain’s FTSE 100 lost 2.06%, Germany’s DAX 30 fell 1.35% and France’s CAC 40 slid 1.04%.
Meanwhile, Japan’s Nikkei 225 paced the losses in Asia, sinking 2.49%, while Hong Kong’s Hang Seng index and China’s Shanghai Composite declined 1.81% and 0.96%, respectively.
