Saturday 8 August 2020

Markets mostly higher amid positive economic data

Markets were mostly higher on Friday.

The S&P 500 rose 0.1 percent while the STOXX Europe 600 rose 0.3 percent.

Asian stocks fell though. The Nikkei 225 fell 0.4 percent and the Shanghai Composite fell 1.0 percent.

Economic data on Friday were mostly positive.

The US economy added 1.76 million jobs in July, with the unemployment rate falling to 10.2 percent from 11.1 percent in June.

China’s dollar-denominated exports rose 7.2 percent in July from a year ago while imports fell 1.4 percent.

In Europe, German industrial production rose 8.9 percent in June while French industrial production rose 12.7 percent.

However, hopes for additional US fiscal stimulus were dashed as talks between Democratic congressional leaders and White House negotiators ended without an agreement.

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