Stocks nudge higher after U.S. employment growth slows sharply

  • 📰 Reuters
  • ⏱ Reading Time:
  • 57 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 26%
  • Publisher: 97%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

U.S. stock markets rose on Friday after data showed U.S. employment increasing far less than expected in September amid a decline in government payrolls.

Ten-year U.S. Treasury yields rose to as high as 1.6%, their highest since June when they touched the same level, ahead of the payrolls release. By 1250 GMT they were up 1 basis point at 1.58%.

Stocks looked set to hold most of the previous session's gains as investors welcomed the U.S. Senate's temporary lifting of the debt ceiling. The rally on Thursday had lifted global stock indexes into positive territory for the week, despite widespread selling initially as investors fretted about soaring energy prices and the prospects of faster than expected interest rate rises to combat inflation.

Still, the mood remains nervous -- oil prices rallied back towards multi-year highs and government bond yields climbed in early Friday trading., which tracks shares in 50 countries, was up 0.1% and is now up 0.9% for the week. But the index is more than 4% off its record high reached in early September."There is so much liquidity out there and there is no alternative to stocks - so each time there is a pullback, 'buy-the-dip' kicks in.

Supporting risk sentiment was the U.S. Senate's approval of legislation to raise the federal government's debt limit and avoid the risk of a historic default, though it only put off a decision on a longer-term remedy until early December.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

5 things to know before the stock market opens FridayU.S. stock futures and bond yields rose Friday morning ahead of the government's September employment report.
Source: CNBC - 🏆 12. / 72 Read more »

Cramer says to buy tech stocks on dips as the market tries to find supportCNBC's Jim Cramer said Wednesday that October volatility is indicative of a market trying to find a bottom, and that's why he likes tech stocks. Pro Now the selloff has to happen. Thanks Cramer. Pro During the Korean presidential election, a leading candidate of the ruling party made excuses for the crime of real estate corruption by trillion-won and referred to Nobel and al-Qaeda at a press conference and compared them to the 9.11 terrorist attacks Pro So he’s pumping $FB after the whistleblower? Seems like he’s really looking out for the public
Source: CNBC - 🏆 12. / 72 Read more »