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Fundamental Analysis
Stocks end sharply higher on surprise jobs report
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[QUOTE="IFC Markets, post: 172521, member: 18359"] [SIZE=5][B]Dollar weakened despite stronger than expected jobs report[/B][/SIZE] [B]US stocks [/B] ended sharply higher on Friday on better than expected jobs report. The S&P 500 advanced 1% to fresh high 3066.91, widening its weekly gain to 1.9%. [I] Dow Jones [/I] industrial gained 1.1% to 27347.36. The [I] Nasdaq [/I] rose 1.1% to 8386.40. The dollar weakening continued despite US economy adding higher than expected 128 thousand new jobs in October. The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, slipped 0.1% to 97.18 and is lower currently. Futures on US stock indices point to higher openings. [IMG]https://ifccd.net/uploads/image/SP500_4November2019.jpg[/IMG] [SIZE=5][B]FTSE 100 led European indexes gains[/B][/SIZE] [B] European stock market [/B] resumed advancing on Friday on US-China trade deal optimism. [I] EUR/USD[/I] joined [I] GBP/USD’s [/I] continued climb Friday with both pairs lower currently. The Stoxx Europe 600 Index gained 0.7% led by mining shares. The [I] DAX 30 [/I] rose 0.7% Friday to 12866.79. France’s [I] CAC 40 [/I] added 0.6% and UK’s FTSE 100 advanced 0.8% to 7302.42. [SIZE=5][B]Hang Seng leads Asian Indexes gains[/B][/SIZE] [B]Asian stock indices[/B] are mostly rising today. [I] Nikkei [/I] however ended 0.3% lower at 22850.77 despite yen continuing its slide against the dollar. China’s markets are rising as US Commerce Secretary Wilbur Ross said Sunday US companies will “very shortly” receive licenses for doing business with Huawei Technologies: both the [I] Shanghai Composite Index [/I] is higher 0.6% and Hong Kong’s [I] Hang Seng [/I] Index is up 1.8%. Australia’s All Ordinaries Index extended gains 0.3% despite Australian dollar extending its gains against the greenback. [SIZE=5][B]Brent down[/B][/SIZE] [B]Brent futures prices [/B] are edging lower today. Prices rose on Friday as the oil-field services firm Baker Hughes reported the number of rigs drilling for crude dropped by 5 this week to 691, down 183 rigs from the same time last year: Brent for January settlement rallied 3.5% to $61.69 a barrel Friday. [/QUOTE]
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