The Dow Jones rose 288 points (+0.87%) in a choppy day of trade on Friday night. Up 438 at best. Down 273 at worst. The S&P 500 and NASDAQ registered their largest daily gain since late August, up 1.18% and 1.6%. Non-farm payrolls rose the most in eight months, signalling a tight labour market. Markets initially fell after jobs data but…
US equities rallied Friday, led by gains in mega-cap tech stocks after non-farm payrolls rose the most in eight months, signalling a tight labour market. The Dow Jones rose 288 points (+0.87%) in a choppy day of trade. Up 438 at best. Down 273 at worst. The S&P 500 and NASDAQ registered their largest daily gain since late August, up 1.18% and 1.6%.
2.30pm Updates Gold miners going well. I am not convinced the rally will last given the US futures are down around 200 points. Looks like the US is getting a little concerned about events in the Middle East. For now, we have seen modest increases in oil and gold and some safe-haven buying in the…
The ASX 200 gave back most of its gains to end up only 16 points to 6970 (0.2%). After a strong start, caution prevailed, US futures pointed to a negative open and confidence was sapped.
DIARY NEXT WEEK Inflation data will be the main release next week. US core and headline inflation on Thursday night and Chinese inflation on Friday night. In the US YoY inflation rate is expected to rise slightly from 3.7% in August to 3.8%. Any number higher than expected will put more pressure on the Fed to raise…
The equity market wobbled as expected on thye strong jobs numebr before it all turned around. The Dow closed up 288 (it was up 438 and it was down 273). SPI Futures up 58. If Wall Street had dropped 288 and the SPI futures were down 58 in response to the jobs number, you would have said, “Yep, that’s right”.
Updates 11.52am – HK Portfolio UMG has just announced a deal with the French at 500c. Will get the green or red light on or close to next Thursday. In the weekend edition, I will run through the NCM deal as it draws to a close in the next few weeks. It was never part of the…
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SUMMARY For Whom the Bell Tolls – The bell has rung at the bottom for one day, it's not enough. But it's interesting. See the ASX 200 chart. Same levels as the March low. Coming up – Jobs number tonight. CPI number next week. Fed Minutes and the US results season. Some big quality industrials…
ASX 200 rose 29 points to 6954 (+0.4%) ahead of NFPs tonight. Banks led the charge higher with the Big Bank Basket at $175.74 (+1.2%). CBA up 1.1%, with WBC the standout, up 2.1%. Insurers rallied, QBE up 2.7%, and MQG doing better up 0.5%, but MFG fell 18.5% on lower FUM numbers again. REITs…
