Teller Report

Now you can see non-English news...

Wall Street clearly in the green after the US employment figures

2019-10-04T20:46:10.550Z

Wall Street clearly in the green after the US employment figures



New York (AFP)

The New York Stock Exchange ended sharply higher on Friday, helped by a report on employment in the United States of rather good performance, the unemployment rate is at its lowest in nearly half a century.

Its flagship index, the Dow Jones Industrial Average, gained 1.42% to 26,573.72 points.

The Nasdaq, with strong technological color, appreciated by 1.40% to 7,982.47 points and the expanded index S & P 500 rose 1.42% to 2,952.01 points.

Over the week as a whole, the Dow Jones lost 0.9%, the Nasdaq appreciated by 0.5% and the S & P 500 dropped 0.3%.

Job creation in the United States remained strong in September and the number recorded in August was revised up sharply, bringing the unemployment rate down to 3.5%, its lowest level since December 1969. Friday announced the Trump administration.

"Investors have enthusiastically welcomed the lowest unemployment rate in 50 years," said Ken Berman, strategist for Gorilla Trades.

Job creation is, however, a little less than expected.

These figures concluded a week dominated by several disappointing indicators for the world's largest economy, signaling a contraction in the manufacturing sector on Tuesday and a weakening of activity in services on Thursday.

With the risk of a slowdown in US growth, or even a recession, many financial players are banking on a further cut in key rates at the next meeting of the Federal Reserve in late October.

For Maris Ogg of Tower Bridge Advisors, it is this perspective that gave a boost to the New York place Friday.

"The decline in interest rates will undoubtedly take place and that is what the market relies on rather than mixed employment figures," says the expert.

Fed President Jerome Powell was reassuring about the health of the world's largest economy, while recalling that the role of the institution he leads was to maintain US growth, in a speech delivered Friday. Washington.

Financial players are now turning their eyes to the trade issue, with the talks at the highest level between the United States and China expected to resume next week in Washington.

Friday, White House economic adviser Larry Kudlow said on Bloomberg TV that a "positive surprise" was possible at the end of this meeting.

In the bond market, the 10-year US debt rate stood at 1.522% around 20.20 GMT, down from Thursday's close (1.534%).

© 2019 AFP

Source: france24

You may like

News/Politics 2019-08-21T14:25:53.280Z
News/Politics 2019-11-01T15:05:00.150Z

Trends 24h

News/Politics 2020-01-25T08:10:03.856Z

Latest

news 2020/01/26    

© Communities 2019 - Privacy