Saturday, 8 July 2017

US stocks rise after solid employment report

Markets were mixed on Friday.

The S&P 500 rose 0.6 percent but the STOXX Europe 600 fell 0.1 percent and the Nikkei 225 fell 0.3 percent.

US stocks were boosted by a report showing that the economy added 222,000 jobs in June, better than the forecast of 180,000.

Charlie Ripley, investment strategist at Allianz Investment Management US, said in a note that “the solid employment data should keep the Fed on course for policy normalization”.

However, oil fell. West Texas Intermediate crude fell 2.8 percent while Brent fell 2.9 percent.

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