On Friday, Asian markets traded mostly lower after the Fed’s FOMC minutes revealed the bond-buying euphoria may come to an end this year. The Hang Seng slipped .3% to 23331, and the Kospi declined .4% to 2012. The Nikkei was a notable exception, jumping 2.8% to 10688, as it resumed trading for the first time since New Year’s.
European markets advanced, encouraged by upbeat US payroll data. The FTSE outperformed, climbing .7% to 6090, while the DAX rose .3% to 7776.
US shares gained, pushing the S&P 500 up .5% to 1466, a 5-year high. The Dow tacked on 44 points to 13435, while the VIX skidded 5% to 13.83.
Apple (AAPL) shares slumped 2% following a report which suggests Samsung will widen its smartphone sales lead in 2013
Currencies
The euro rose .2% to 1.3064, lifted by positive service sector data from the eurozone. The pound eased fractionally, while the yen tumbled as low as 88.39, before settling at 88.16, down 1.2%.
Economic Outlook
The nonfarm payroll report showed the US economy grew by 155K last month, slightly above forecasts, although the unemployment rate rose to 7.8% from 7.7%. ISM non-manufacturing PMI rose to 56.1 from 54.7, beating forecasts.
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Upbeat US Economic Data Lifts Stocks
Published 01/07/2013, 05:05 AM
Updated 05/14/2017, 06:45 AM
Upbeat US Economic Data Lifts Stocks
Equities
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