Markets rose on Friday.
The S&P 500 rose 0.9 percent, the STOXX Europe 600 jumped 1.2 percent and the Shanghai Composite rose 0.4 percent.
Markets were boosted by a report that the US economy added 266,000 jobs in November, the biggest gain since January.
“This is a blowout number and the U.S. economy continues to be all about the jobs,” Tony Bedikian, head of global markets for Citizens Bank, said in a note.
“Today’s job report, more than any other report in recent months, squashed any lingering concerns about an imminent recession in the US economy,” said Gad Levanon, head of the Conference Board’s Labor Market Institute.
Michelle Meyer, Bank of America Merrill Lynch’s chief US economist, said that “the strong employment activity suggests that the economy is in a better spot than previously thought to withstand any potential drag from the US-China trade war and other geopolitical risks in the outlook”.
Another report in the US on Friday showed that the University of Michigan’s consumer-sentiment indicator rose to 99.2 in December from 96.8 in November.
No comments:
Post a Comment