Saturday, 3 December 2016

S&P 500 flat despite positive jobs number

Markets were mostly lower on Friday.

In the US, the S&P 500 was flat but the Dow Jones Industrial Average fell 0.1 percent.

European stocks fell, with the CAC 40 in particular falling 0.7 percent and the FTSE 100 falling 0.3 percent.

In Asia, the Nikkei 225 fell 0.5 percent while the Hang Seng slumped 1.4 percent.

The US employment report on Friday showing an increase of 178,000 jobs in November had little impact on markets. While the headline number was positive, the report also showed fewer people looked for work and hourly wages fell.

Indeed, bond prices rose. The yield on the US 10-year Treasury note fell to 2.39 percent from 2.45 percent on Thursday.

Oil continued to rally. US crude rose 1.2 percent while Brent rose 1 percent.

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