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Equity benchmarks rose sharply on Friday at noon, as a key employment indicator in April was warmer than expected, as the unemployment rate fell to its lowest level in nearly 50 years, highlighting the health of the market. American employment.
What is the performance of benchmarks?
The Dow Jones Industrial Average
DJIA, + 0.79%
increased by about 207 points, or 0.8%, to 26,515, the S & P 500 index
SPX, + 0.97%
climbed 26 points, or 0.9%, to 2,944, while the Nasdaq composite index
COMP + 1.39%
rose 103 points, or 1.3%, to 8,140.
For the week, the Nasdaq was about to end a series of weekly wins to five with a 0.2% drop in five sessions, though it had reduced that decline during the session. The S & P 500 should record a weekly gain of about 0.1%, while the Dow is on track to record a weekly drop of 0.1%.
What motivates the market?
The April employment report highlighted a healthy job market that generated 263,000 more strong jobs than expected in April, bringing the unemployment rate to 3.6 per cent. %, its lowest level in 49 years, exceeding the estimates of economists surveyed by MarketWatch. gains of 217,000.
The unemployment rate fell from 3.8% in March to its lowest level since December 1969. The average wage paid to American workers increased by 6 cents or 0.2% to $ 27.77. hour, while the growth rate of hourly wages over 12 months was unchanged at 3.2%. The number of hours worked each week decreased from 0.1 hours in April to 34.4%.
Lily: The jobs report could be incredibly strong for an unusual reason
Labor market data seems to help stock speculators to momentarily get rid of a two-day slippage for the S & P 500 and the Dow, widely blamed for their disappointment by remarks made Wednesday by the President of the Reserve Federal, Jerome Powell. Powell gave no indication of the central bank's willingness to move rates in either direction, appearing to disappoint investors who had hoped that the central bank would indicate a trend towards lower rates.
Lily: Economists welcome the creation of jobs, according to which unemployment rates would drop to the lowest of Vietnam
A heavy week of financial results is about to end.
What stocks are under discussion?
Amazon.com Inc.
AMZN, + 3.17%
Shares were up in pre-market activities after investor-billionaire Warren Buffett told CNBC on Thursday night that Berkshire Hathaway
BRK.A, + 1.12%
BRK.B, + 1.36%
had bought shares of the e-commerce giant. Shares of the e-commerce giant rose 2.1%.
Lily: Berkshire's purchase of Amazon is a wake-up call for individual investors, says the portfolio manager
Actions of Newell Brands
NWL, + 11.40%
may be in the spotlight after exceeding Wall Street expectations in terms of profits and sales. The company's shares have increased by more than 12%.
Actions of Beyond Meat Inc.
BYND, + 7.85%
The alternative meat company extended its gains after its IPO on Thursday. Shares rose about 6% on Friday.
Actions of Weight Watchers International Inc.
WW, + 13.93%
now known as WW, climbed 18% in active trading Friday, on the way to the biggest increase in a day in almost two years, after the welfare company announced a less significant loss than expected in the first quarter and strengthened its earnings outlook for the year.
Actions of Expedia Group Inc.
EXPE, -1.61%
down 2.3% after disappointing quarterly sales.
Sinclair Broadcast Group
SBGI, + 0.57%
The television channel announced that it has reached an agreement worth more than $ 10 billion to acquire 21 regional sports networks. Walt Disney Co.
DIS + 0.01%
the Wall Street Journal reported.
What do analysts say?
"This is another strong and clear signal that the economy is doing really well. Jobs – checks, wages – checks, earnings – checks, and control of inflation – checks, "writes Mike Loewengart, c. Investment strategy at E-Trade Financial Corp., in a note Friday after the jobs report.
"We are coming to a point where it is difficult to find a concern. But this is not an excuse for complacency. As we enter the final nine days of the earnings season, traders will likely look to Washington for trade resolutions next week. And despite the murmur of positivity on this front, there are more than a few outstanding issues, "he said.
What else on the economic calendar?
According to the government's report, the anticipated trade deficit for goods rose 0.7% to $ 71.4 billion. Economists surveyed by MarketWatch expected a trade deficit of $ 72 billion.
The Institute for Supply Management's non-manufacturing index, or services, is at 55.5, which is the lowest level since August 2017. The economists surveyed by MarketWatch were on an index of 56.1. A reading of 50 or better indicates improved conditions.
At the same time, Fed Vice President Richard Clarida said the US economy "is in a very good position," with low unemployment and "moderate" inflation, in a speech delivered at a conference sponsored by the Hoover Institution at Stanford University.
St. Louis Fed President James Bullard told CNBC on Friday that monetary policy seemed "a little tight," but said he did not advocate a quick policy change.
Chicago Fed President Charles Evans said in a speech in Stockholm that the recent drop in underlying inflation could be due to transitional factors, echoing remarks made Wednesday by the president of the Fed, Jerome Powell. Nevertheless, "we do not want to be too dismissive of this development," he added. "We can not yet declare victory over our mandate in terms of inflation," he said.
New York Fed President John Williams is scheduled to speak at 1:45 pm
How were the other markets exchanged?
Chinese markets were closed during holidays and the Nikkei in Japan remained closed for ten days, commemorating the installation of a new emperor earlier this week. Hong Kong Hang Seng Index
HSI, + 0.46%
advanced the day.
European equities have generally increased, as evidenced by the 0.6% gain in Stoxx Europe 600.
SXXP, + 0.39%
Crude oil price
CLM9, + 0.55%
Negotiated mixed Friday, while gold prices
GCM9, + 0.74%
After reaching its lowest level in about four months on Thursday, it rose slightly at the start of trading. The US dollar index
DXY, -0.31%
during this time, slightly higher.
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