U.S. stock futures clung to their gains after fresh jobs data showed that unemployment hovered at a 50-year low in December.
Employers added 145,000 jobs in December and unemployment stayed at 3.5%, capping a 10th straight year of payroll gains. Private-sector wages advanced 2.9% from a year earlier, the smallest annual gain since July 2018.
Friday’s figures were somewhat weaker than expected. Economists surveyed by The Wall Street Journal had forecast a gain of 160,000 jobs, a 3.5% unemployment rate and 3.1% annual wage growth.
Futures tied to the Dow Jones Industrial Average edged up 0.1%. The blue-chip stocks’ benchmark is flirting with the 29000-milestone, after hitting a fresh record on Thursday.
U.S. government bond prices climbed on the data, pushing yields lower. The 10-year Treasury yield dropped to 1.838% from 1.855% ahead of the report. Gold prices also flipped higher, trading up 0.1%.
Investors closely watch the Labor Department’s jobs report for any signs of a slowing economy.
The continued job creation in 2019—on the heels of payroll gains every year since 2010—helps bolster the Federal Reserve’s view that monetary policy doesn’t need to be eased further as the U.S. economy is continuing to grow. On Thursday, two senior Fed officials said they saw no need to change short-term interest rates soon, and that they were upbeat about the economic outlook.
“The employment rate is still below what it was before the financial crisis,” said Florian Hense, an economist at Berenberg Bank. A strong jobs report is unlikely to shift thinking at the Fed, unless there is a sudden and sharp uptick in wage growth, he said ahead of the report. “What would make them raise rates is wage inflation close to 4%, and we’re pretty far from that.”
The pan-continental Stoxx Europe 600 gauge ticked 0.1% higher. Japan’s Nikkei 225 Index ended the day up 0.5%, while China’s Shanghai Composite Index dropped 0.1%.
Among European equities, Ryanair Holdings was the biggest gainer. The stock rose 7.8% after the low-cost airline boosted its profit guidance for the year ending in March. Other European carriers also climbed as analysts said that the holiday season was strong for the sector overall. Easyjet rose 4% in London and IAG, parent of British Airways, climbed 4.6%.
Write to Anna Isaac at anna.isaac@wsj.com
Copyright ©2019 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
"jobs" - Google News
January 10, 2020 at 08:46PM
https://ift.tt/2TaHnfT
U.S. Stock Futures Hold Gains After Jobs Report - Wall Street Journal
"jobs" - Google News
https://ift.tt/36m99ub
Shoes Man Tutorial
Pos News Update
Meme Update
Korean Entertainment News
Japan News Update
No comments:
Post a Comment