Rolling coverage of the latest economic and financial news
- Latest: FTSE 100 closes at one-year high near 7,000 points
- DJIA and S&P 500 at new peaks
- US retail sales surged 9.8% last month
- Jobless claims lowest since first wave of pandemic
Earlier:
- GSK shares jump as hedge fund Elliott builds stake
- Mid-cap FTSE 250 index hits peak
- City vacancies jump 70% this quarter
- Online job vacancies up; UK restaurant reservations jumped on Monday
PS: Missed this earlier, but it’s worth noting.
Amazon.com Inc needs to do better at taking care of its employees, Jeff Bezos said on Thursday in his final letter to shareholders as chief executive officer of the online retail giant
“I think we need to do a better job for our employees.”
“His (Bezos’) admission won’t change anything, workers need a union – not just another Amazon public relations effort in damage control,”
This is, far and away, the best shareholder letter I've ever read. I don't say that lightly. It is @JeffBezos' last as CEO of @amazon. Read it until the very end. There are some real and profound lessons in there. https://t.co/DN7dB47Toa
Time to wrap up
Global stock markets have hit new peaks amid fresh signs that economic recovery from the pandemic is gathering pace.
Related: England making the most of Covid rules easing, ONS figures show
“Records have been breaking all over US and UK financial markets today. Buoyed by higher than expected retail sales last month and lower than expected jobless claims over the last week, the Dow Jones topped 34,000 points for the first time. Stocks soared as markets took in quarterly results from Bank of America and Fund manager BlackRock, both estimate busting and adding to expectation that this will be a bumper crop of earnings.
“In the UK, recovery optimism propelled the FTSE 250 to another record high; housebuilders Countryside Properties, Trainline and Royal Mail were among companies providing the biggest boost. For a while the FTSE 100 looked like it would finally squeak over 7,000 for the first time since last February, but it didn’t quite get there. However, this market mojo might have legs and positive economic data expected from China tomorrow could finally seal the deal. A post-pandemic milestone that will do much to cement confidence if only in the minds of investors.
Related: Deliveroo doubles orders during latest Covid lockdown
Related: Shell calls on investors to vote for its new climate strategy
Related: Almost 40% of UK workers ‘get less than a week’s notice of shift patterns’
Related: GFG Alliance says applications for government Covid loans were lawful
