4/1, 10:01 PM (Source: TeleTrader)
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US closes higher after economic reports

Major stock markets in the US traded higher at the close of Friday’s session after today’s economic reports. According to the Bureau of Labor Statistics, the unemployment rate is estimated at 3.6% in March, while the ISM report showed the slowest growth in US manufacturing since its last reading in September 2020. Furthermore, US President Joe Biden commented on the latest job reports suggesting that the US economy is gradually recovering, but that "more needs to be done" in order to combat soaring prices amid the Ukrainian conflict.

The Dow Jones Industrial Average index closed 0.40% or 139 points higher with Verizon Communications Inc rising by 2.32%. In addition, the Nasdaq 100 increased by 0.15% at the close with NetEase leading the gains, surging 6.82%. Finally, the S&P 500 rose 0.34% at the end of trading with Edwards Lifesciences Corp as its best performer, jumping 4.54%.

The euro was 0.19% down compared to the dollar, going for 1.10464 at 3:57 pm ET.

Baha Breaking News (BBN) / AB