Most global markets closed their doors to investors on Friday, celebrating the Good Friday, which is an official holiday in most countries of the world.
Global stock exchanges closed in the United States, the United Kingdom, Germany, France, Canada and other countries.
European markets will continue to be closed on Monday on the occasion of Easter, but the American stock market will resume trading normally. Some financial markets in Asia and the Pacific also stop trading today, including Australia, Hong Kong, Singapore and Indonesia.
European stocks closed higher Thursday, while the Standard & Poor’s index of US stocks exceeded the level of 4 thousand points for the first time ever. Technology stocks topped the gains of Wall Street with the decline in US bond yields.
Economic data showed an increase in the industrial activity in the US to its highest level in more than 37 years. Last month, US jobless claims also recorded an increase to 719,000 applications last week.
For his part, Joe Biden, President of the United States of America, announced that the White House has a plan to modernize the infrastructure and the transportation sector. The plan, whose worth exceeds two trillion dollars, will be implemented over the next eight years.
As the US administration directed its focus towards strengthening the economy after the Coronavirus pandemic, the plan includes raising the corporate tax rate to 28% to finance the plan.
The plan also includes increasing tax authority revenues by combating fraud and tax evasion more effectively, eliminating subsidies for the oil and gas industries, as well as many tax exemptions.
As trading closed Thursday, Dow Jones Industrial Index increased by 0.5%, to reach the level of 33,153.2 points, which is an industrial index for the 30 largest American industrial companies on the New York Stock Exchange, and is the oldest index in the world.