Global Market Update 23.10.13 The September jobs report wasnt - TopicsExpress



          

Global Market Update 23.10.13 The September jobs report wasnt great, but US stocks rose Tuesday as investors anticipated that lackluster hiring will push the Federal Reserve to keep its monetary stimulus as is in the months ahead. The Dow Jones industrial average, S&P 500 and the Nasdaq ended modestly higher, with the S&P 500 closing at a fresh record high for a fourth straight day. The Dow finished at its highest level in a month. The September jobs report, which was delayed more than two weeks because of the government shutdown, showed the economy gained just 148,000 jobs last month. But the unemployment rate ticked down to 7.2%, the lowest since November 2008. Still, the numbers suggest that the U.S. economic recovery remains fragile and that the Fed will likely keep buying $85 billion in bonds each month for a bit longer. European markets also ended higher on the back of the jobs report. Asian Markets are also trading higher on the back of hopes of an extension in QE tapering timeline. China signaled concern on Tuesday that ample credit could fuel inflation as a report showed house prices jumped the most in nearly three years, with double-digit gains in major cities. Crude is trading at USD 109.9 to a barrel, down marginally ibis...
Posted on: Wed, 23 Oct 2013 04:55:36 +0000

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