Focus: European stimulus and US stocks

Focus: European stimulus and US stocks

US first-time jobless claims for the week ending May 30 came in at 1.9 million.. Non-farm payroll for May increased by 2.5 million bringing the unemployment rate to 13.3 percent, which is markedly higher than expected, because the private-sector services recovered 2.4 million jobs.. US-China tensions increased when American President Donald Trump's administration threatened to suspend Chinese passenger flights to the US in response to Beijing barring American carriers from re-entering China.. In response China has widened eligible countries and airlines when it eases it ban on foreign carriers.. While the move will land the two UK banks in disagreement with their government, HSBC gets a vast proportion of its revenues from the greater China area.. Lufthansa shares have dipped in value by more than 30 percent since the beginning of the year, bringing the company's market cap down to $5.2 billion.. The carrier is now 60th in terms of market capitalization and will leave the DAX after 32 years, because the index is reserved for the 30 largest German companies.. The European Central Bank (ECB) decided to leave interest rates unchanged and announced an additional 600 billion euros of bond purchases, bringing the total pandemic emergency purchase program (PEPP)