Saturday 9 October 2021

Markets mixed, US jobs report disappoints

Markets were mixed on Friday.

The S&P 500 fell 0.2 percent and the STOXX Europe 600 fell 0.3 percent.

However, Asian stocks rose, with the Shanghai Composite up 0.7 percent and the Nikkei 225 up 1.3 percent.

US stocks were weighed down by a disappointing employment report, which showed just 194,000 job gains in September.

“This jobs number could call into question the starting point for taper late this year,” said Jamie Cox, managing partner for Harris Financial Group.

Still, the Federal Reserve will have to keep an eye on inflation as oil prices rose on Friday, with West Texas Intermediate crude futures crossing US$80 per barrel for the first time since November 2014.

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