The biggest daily decline in commodity prices in 2008 has fallen below 100 U.S. dollars

Xinhuanet New York, May 5 (Reporter Yu Hao) Due to the general decline in global commodity prices and oil prices, as well as poor employment data, the three major stock indexes of the New York Stock Exchange fell across the board on the 5th, with the Dow falling by more than 1%.

In terms of economic data, the US Department of Labor announced that during the week ending April 30, the number of initial jobless claims was 474,000, which was higher than the economist’s average of 41,000, and was also higher than the previous week’s 429,000. . The U.S. Department of Labor also announced that non-agricultural productivity in the first quarter of 2011 had a year-on-year growth rate of 1.6%, which was higher than the 1.3% previously expected by the market.

In terms of company performance, GM’s first quarter financial report released on the 5th showed that its net profit for the quarter was US$3.2 billion, which was higher than the net profit of US$865 million in the same period of last year, exceeding the consensus expectations of market participants. At the same time, GM’s sales for the quarter were $36.2 billion, an increase of 15% from $31.5 billion in the same period last year.

At the same time, the European Central Bank decided to maintain the 1.25% interest rate unchanged on the 5th. The Bank of England Bank of England also announced that it maintains the benchmark interest rate of 0.5% unchanged. Although the decisions of the European Central Bank and the Bank of England are generally in line with market expectations, investors are still worried that the European Central Bank will enter a rate hike cycle in a situation of rising inflation.

From the perspective of individual stocks and sectors, the financial sector fell 1.31% on the 5th and the basic materials sector fell 1.98%. The medical sector, which rose in the past few trading days, also fell, with a fall of 0.96%. In addition, due to the rise in the U.S. dollar, reduced demand, and news that OPEC may increase production, international oil prices plunged on the 5th. The price of light crude oil for delivery in June in the New York market fell 9.17 U.S. dollars to settle at 99.80 U.S. dollars per barrel, a decrease of 8.39%. This directly led to a sharp decline in the energy sector of the New York Stock Exchange, which fell by 2.58% as of the close.

At the close of New York stock market, the average price index of the Dow Jones Industrial Average fell 139.41 points to close at 12,584.17 points, or 1.10%, from the previous trading day. The Standard & Poor's 500 stock index fell 12.22 points to close at 1335.10 points, a decrease of 0.91%. The Nasdaq Composite Index fell 13.51 points to close at 2814.72 points, a decrease of 0.48%.