Weekly

The number of first-time jobless claims in the United States fell to 1.542 million last week from 1.897 million the previous week, slightly lower than the expected 1.55 million. The original data favorable to the stock market did not cover all bad news.

A new outbreak has occurred in Texas, US. The market worries that the US will fail to restart its economy, triggering panic in the market and plunging US stocks.  The Dow Jones index fell more than 700 points when it opened.

After that, it expanded its decline and lost 26,000 points, with a sharp drop of 1,907 points at most, before closing down 1,861 points at 25,128 points, a decline of about 7%.

On the other hand, US Federal Reserve Chairman Powell made a speech after the interest rate meeting on Wednesday, which looked down on the prospects and pointed out that the road to recovery was still long, adding to market worries about the pace of economic recovery.

In fact, in order to solve the market failure and credit freeze, the U.S. Federal Reserve not only provides liquidity for high-quality enterprises, but also benefits the junk bond market. Under the effect of increased liquidity, the stock market has outperformed the real economic growth rate at an extremely fast speed.

The U.S. stock market fell sharply this time, hoping to eliminate speculative risks and achieve higher and more sustained growth in the future.  Investors should also learn to strengthen discipline and strike a balance between objectives, capital and risks.

Gold rose as the stock market opened sharply, reaching a peak of $1744 an ounce and finally closing at $1737.  The U.S. Department of Energy announced on Wednesday that local oil production fell 10 weeks last week.

However, crude oil stocks increased by 5.72 million barrels to 538.1 million barrels, 100,000 barrels higher than the previous record in 17.  The recovery of oil demand is not fast enough, while the pace of supply decline is slower than demand.

In addition, the global stock market fell sharply due to worries about the economic prospect, dragging down the pressure on new york oil.  Oil prices fell to 37 U.S. dollars per barrel during the new york period and fell 8.69% to 36.16 dollars on Thursday.

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