If you decide to invest, read our important investment notes first and remember that investments can go up and down in value, so you could get back less than you put in. Japan’s Nikkei 225 index gained 1.8% to 39,332.74 after the yen sank against the U.S. https://agc-platform.com/ dollar. The Japanese currency has bounced on speculation over the central bank’s plans for interest rates since Prime Minister Shigeru Ishiba took office last week.
Stocks rise after massive jobs report beat
Lower interest rates tend to boost prices of shares and other asset, and both Ishiba and the central bank governor suggested no hikes were likely soon. Japan’s Nikkei 225 index gained 1.8% to 39,332.74 after the https://www.investopedia.com/articles/forex/11/why-trade-forex.asp yen sank against the U.S. dollar. The Japanese currency has bounced on speculation over the central bank’s plans for interest rates since Prime Minister Shigeru Ishiba took office last week. The Fed has begun cutting interest rates and Friday’s jobs report was so strong traders are now forecasting it will not deliver another half-point interest rate cut before the end of the year after doing so in September. The September jobs report massively overshot expectations, as the US economy added 254,000 jobs last month and the unemployment rate fell to 4.1%.
- The S&P 500 and Dow closed out weekly gains, both sitting within striking distance of their record highs.
- Leading the way were banks, airlines, cruise-ship operators and other companies whose profits can benefit the most from a stronger economy where people are working and better able to pay for things.
- On the downside, a barrage of strikes by Israel on Beirut kept alive the Mideast worries that have driven up oil prices.
- Before the Oct. 1 National Day holiday began, announcements of policies aimed at reviving the ailing property market pushed share benchmarks sharply higher and this week could bring more volatility.
Oil pares gains as Biden discourages Israel from targeting Iranian crude fields
The jobs data swung forecasts toward a smaller interest rate cut from the Federal Reserve next month. Nearly 99% of bets are on a 25 basis point cut, as opposed to a 50 basis point cut, according to the CME FedWatch Tool. Hargreaves Lansdown may not share the views expressed in articles https://agc-platform.com/ provided by ShareCast or other sources. Stocks recouped their weekly losses, as the markets have shown some resilience in the face of a rough week of worrying headlines.
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The S&P 500 and Dow closed out weekly gains, both sitting within striking distance of their record highs. But he offered no major new initiatives, and his initial public support ratings are around 50% or lower, relatively low https://www.investopedia.com/investing-4427685 for a new leader, according to Japanese media. In recent days, a huge port strike, devastation from Hurricane Helene, and the prospect of a wider Mideast conflict brought the potential to lift prices and fan inflation.
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That was an acceleration from August’s hiring pace of 159,000 and blew past economists’ forecasts. But U.S. benchmark crude oil slipped 19 cents to $74.19 per barrel early Monday, while Brent crude, the international standard, lost 29 cents to $77.76 per barrel. Leading the way were banks, airlines, cruise-ship operators and other companies whose profits can benefit the most from a stronger economy where people are working and better able to pay for things. Norwegian Cruise Line steamed 4.9% higher, JPMorgan Chase rose 3.5% and the small companies in the Russell 2000 index gained 1.5%. On the downside, a barrage of strikes by Israel on Beirut kept alive the Mideast worries that have driven up oil prices. Western leaders warned about "uncontrollable escalation" as investors waited to see whether Israel would attack Iran’s oil facilities — a move President Biden said is under discussion.
Oil hovers near session highs, on pace for biggest weekly gain in over a year
Altogether, the report showed the labor market remains robust, even amid signs it has cooled. Stocks soared on Friday as investors welcomed a key monthly jobs report that showed hiring remains robust in the US economy. The Middle East crisis and a return to work at US ports also stayed in high focus. Recent encouraging data on the economy have raised hopes that the job market will hold up after the Fed pressed the brakes on the economy through higher rates in order to stamp https://coinmarketcap.com/currencies/bitcoin/ out high inflation. Worries over tensions in the Middle East still are casting a shadow, having pushed oil prices sharply higher as the world waits to see how Israel will respond to an Oct. 1 missile attack by Iran. Treasury yields soared Friday after the U.S. government said employers added 254,000 more jobs to their payrolls last month than they cut.
Mainland Chinese markets reopen from a weeklong holiday on Tuesday, and the government said it plans to explain details of plans for economic stimulus at a morning news conference in Beijing. Before the Oct. 1 National Day holiday began, announcements of policies aimed at reviving the ailing property market pushed share benchmarks sharply higher and this week could bring more volatility. Asian shares advanced Monday after a surprisingly strong U.S. jobs report raised optimism about the economy, sparking a rally on Wall Street. Our website offers information about investing and saving, but not personal advice. If you’re not sure which investments are right for you, please request advice, for example from our financial advisers.
