DJ News Highlights: Top Global Markets News of the Day

· 02/05/2021 19:00

Regulators Say Market Infrastructure Was Resilient in GameStop FrenzyGerman Factory Orders in December Hit by LockdownsAnalysis: BOE Risks Hampering Recovery as Gilt Yields RiseU.S. Oil-Rig Count Grows by 4 in Latest Week, Baker Hughes SaysNew U.S. Cases Edge Down but Deaths Spike on BacklogAfter the Pandemic, a Service TsunamiU.S. Trade Balance With China Improves, but Sources of Tension LingerBiden Doesn't Expect $15 Minimum Wage to Be in Final Covid-Aid BillU.S. Added 49,000 Jobs in JanuaryS&P 500 Closes Best Week Since Early November

U.S. stocks edged higher, giving the S&P 500 a 4.6% rise for the week as investors anticipated fresh stimulus spending and the labor market's recovery.

The small gain returned growth to the labor market after a one-month dip. The unemployment rate fell to 6.3%.

Democrats are moving forward without Republican support for the package.

Exports of goods to China rose 17.1% last year, as the Biden administration looks to reframe economic relations with the world's No. 2 economy.

Americans usually rush out to buy things after an economic slump, but this time around there could be a surge in demand for meals, entertainment and vacations

Newly reported Covid-19 cases in the U.S. were down slightly from a day earlier, but deaths hit their highest daily tally yet, as a backlog of cases in Indiana was added to the nation's total.

The number of rigs drilling for oil in the U.S. increased by four in the latest week to 299, according to oil-field services firm Baker Hughes.

Investors have unwound bets on the likelihood of the BOE establishing negative interest rates and some speculate the central bank may rein in monetary stimulus prematurely.

German manufacturing orders fell 1.9% in December, suggesting the stricter lockdown in the country and continuing restrictions across the eurozone had a negative impact on the industrial sector.

The Treasury Department, SEC and other regulators discussed market functionality and recent trading practices in equity, commodity and related markets.

(END) Dow Jones Newswires

February 05, 2021 19:00 ET (00:00 GMT)