US stocks rally despite weak jobs report

By IFCMarkets

All three main stock indices log records

US stock indices ended at record highs and the dollar strengthened on Friday despite weaker than expected jobs report and mixed data. The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, inched up 0.1% to 91.966. S&P 500 gained 0.7% to fourth straight closing record 2743.15 as 148,000 new jobs were added in December, down from 252,000 in November. Dow Jones industrial average jumped 0.9% to fresh record 25295.87. The Nasdaq composite added 0.8% to 7136.56. Futures indicate higher market openings today.


Auto makers lead European stocks higher

European stocks rallied on Friday with market sentiment buoyed by advances on Wall Street. The euro ended lower against the dollar as euro-zone inflation fell to 1.4% in December from 1.5% in November while the British Pound rose. The Stoxx Europe 600 index rose 0.9% led by auto maker shares advancing on rating upgrades. The DAX 30 jumped 1.2% to 13319.64. France’s CAC 40 rose 1.1% and UK’s FTSE 100 gained 0.4% to fresh record 7724.22. Indices opened 0.1%-0.6% higher today.

Asian markets gain

Asian stock indices are higher today. Japanese markets are closed for a holiday. Chinese stocks are higher as the central bank issued fresh regulations aimed at increasing transparency and containing financial risks: the Shanghai Composite Index is up 0.5% and Hong Kong’s Hang Seng Index flat. Australia’s All Ordinaries Index is up 0.1% as Australian dollar fell against the greenback.

Oil pulls back

Oil futures prices are edging lower today. Prices ended lower Friday after hitting three-year high Thursday on bigger than expected US crude stock draw: March Brent fell 0.7% to $67.62 a barrel on Friday. It gained 1.1% for the week.

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