Wall Street Gains After Mixed Employment Report

Published 10/07/2019, 12:17 AM
DE40
-
1YMH25
-

US indices rose on Friday after the US unemployment rate fell to near a 50-year low in September. However, the number of jobs added was below the forecast, and wages growth was the lowest in almost two years. There were more violent protests in Hong Kong over the weekend. China is still on its week-long National Day celebrations.

US30USD Daily Chart

US30USD Daily Chart

  • The US30 index jumped the most in more than five weeks on Friday, as investors preferred to focus on the decline in the unemployment rate.

  • The index rose to test the 55-day moving average, which is at 26,520 today.

  • There are no major US data releases scheduled today, though we have a speech from Fed Chairman Powell scheduled. Late Friday he said that the Fed wants inflation to be higher and needs to get it back to 2%.

DE30EUR Daily Chart

DE30EUR Daily Chart

  • The Germany30 index rose for a second day on Friday, echoing the rally on Wall Street, but is under pressure in early Asian trading this morning.

  • The index has held above the 200-day moving average at 11,820 and is now straddling the 55-day moving average at 12,123.

  • German factory orders are expected to contract for a second straight month in August, the latest survey of economists shows. Estimates suggest a decline of 1.5% after a 2.7% contraction in July.

HK33HKD Daily Chart

HK33HKD Daily Chart

  • The HongKong33 index managed its first weekly gain in three weeks last week but this week may be different given the apparent escalation in violent protests over the weekend. Onshore markets are closed today.

  • The index remains capped by the 55-day moving average at 26,494, which has contained prices since September 17.

  • HK Administrator Carrie Lam said can no longer tolerate demonstrators destroying the city. The weekend saw mainland China soldiers issuing arrest warnings to protesters after lasers were pointed at China barracks. This was the first interaction with mainland military forces since the protests began four months ago.

Original Post

Latest comments

Loading next article…
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2025 - Fusion Media Limited. All Rights Reserved.