The Dow Jones Industrials are within touching distance of the 18,000 mark with the index recently up 41 points to 17,941 with the S&P 500 up 4 points to 2,076 as the US non-farm payrolls number for November didn’t disappoint. The FTSE 100 is up 60 points at 6,736.
Dow Jones Industrials
321,000 new jobs were added in November in the United States, the largest rise since early 2012 and well ahead of an expected 230,000 rise. An upward revision of 44,000 was also made for September and October. The unemployment rate stayed flat at 5.8% despite the increase in new jobs added as the work force increased in size. The average monthly increase in jobs for the year to date to 241,000, its highest level since 1999.
With the US market at an all time high, the American economy seems in very robust shape with the big fall in oil prices in recent months together with the strong employment market meaning that things are looking good for further growth in 2015. But with things seemingly looking so positive it only seems like a matter of time before the Federal Reserve will be tempted to increase interest rates. With the US dollar riding high on these latest employment figures, the market is betting that the Fed may be pressurised into tightening earlier in 2015 than was previously forecast.
After the big sell off in mid-October, the rebound has been exceptional, with the Dow climbing from around 16,100 or an increase of 14.6%. When will the pre-Christmas rally finally begin to fade, after such a rally it must be time for a breather?
Contrarian Investor UK
IMPORTANT: The posts I make are in no way meant as investment suggestions or recommendations to any visitors to the site. They are simply my views, personal reflections and analysis on the markets. Anyone who wishes to spread bet or buy stocks should rely on their own due diligence and common sense before placing any spread trade.
by contrarianuk
Yet more all time highs for US market on jobs number
Dec 5, 2014 at 3:07 pm in Market Commentary by contrarianuk
The Dow Jones Industrials are within touching distance of the 18,000 mark with the index recently up 41 points to 17,941 with the S&P 500 up 4 points to 2,076 as the US non-farm payrolls number for November didn’t disappoint. The FTSE 100 is up 60 points at 6,736.
Dow Jones Industrials
321,000 new jobs were added in November in the United States, the largest rise since early 2012 and well ahead of an expected 230,000 rise. An upward revision of 44,000 was also made for September and October. The unemployment rate stayed flat at 5.8% despite the increase in new jobs added as the work force increased in size. The average monthly increase in jobs for the year to date to 241,000, its highest level since 1999.
With the US market at an all time high, the American economy seems in very robust shape with the big fall in oil prices in recent months together with the strong employment market meaning that things are looking good for further growth in 2015. But with things seemingly looking so positive it only seems like a matter of time before the Federal Reserve will be tempted to increase interest rates. With the US dollar riding high on these latest employment figures, the market is betting that the Fed may be pressurised into tightening earlier in 2015 than was previously forecast.
After the big sell off in mid-October, the rebound has been exceptional, with the Dow climbing from around 16,100 or an increase of 14.6%. When will the pre-Christmas rally finally begin to fade, after such a rally it must be time for a breather?
Contrarian Investor UK
IMPORTANT: The posts I make are in no way meant as investment suggestions or recommendations to any visitors to the site. They are simply my views, personal reflections and analysis on the markets. Anyone who wishes to spread bet or buy stocks should rely on their own due diligence and common sense before placing any spread trade.