Markets were mixed on Friday.
The S&P 500 was flat, the STOXX Euroe 600 fell 0.2 percent and the Nikkei 225 rose 0.9 percent.
A stronger-than-expected US jobs report failed to give US stocks much lift.
The Labor Department reported that nonfarm payrolls increased by 638,000 in October and the unemployment rate was at 6.9 percent.
“The strength of this report is really amazing in the face of rising coronavirus cases,” said Michael Arone, chief investment strategist at State Street Global Advisors.
However, some economists are worried that the strength may not be sustained.
“I think the risks are pretty high here that the economy backtracks,” said Mark Zandi, chief economist of Moody’s Analytics. “We are suffering a very significant reintensification of the virus...that’s going to start doing some damage.”
No comments:
Post a Comment