Asian markets closed mixed as investors awaited key US payroll data later in the day. The Nikkei rose .5% to 8644, gaining 5.9% for the week, its largest jump in 2 years. Australia’s ASX 200 climbed 1.4%, soaring 7.6% for the week. In China, the Shanghai Composite fell 1.1%, while the Hang Seng ticked up .2%.
European markets advanced, as the banking sector surged 4.2% amid hopes for the upcoming EU summit. The FTSE gained 1.2%, the CAC40 rose 1.1%, and the DAX closed up .7%.
US markets closed little changed, surrendering earlier gains, despite an upbeat jobs report. The Dow had risen more than 125 points earlier in the session, but settled at 12019, down 1 point.
Dow Forfeits Early Gains to Close Flat
Blackberry-maker Research in Motion plunged 9.7% after warning it would fall short of forecasts due to struggling sales of its Playbook tablet.
Currencies
The US Dollar advanced against global currencies. The Euro, Pound, and Swiss Franc each fell .6%, while the Yen eased .3% to 77.98. The Australian Dollar edged lower .1% to 1.0216, reversing a morning spike up to 1.0304.
Economic Outlook
Non-farm payrolls rose by 120K last month, slightly less than the 126K forecast, but stronger than last month’s 100K reading. The unemployment rate unexpectedly dropped to 8.6%, from 9.0% previously. The recent data suggests the US recovery is picking up steam.
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Daily Analysis – US Unemployment Rate Drops to 8.6%
Published 12/12/2011, 06:49 AM
Updated 05/14/2017, 06:45 AM
Daily Analysis – US Unemployment Rate Drops to 8.6%
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