Global stocks, US dollar end lifted after labour pickup, oil gains | Malay Mail

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WASHINGTON, Nov 6 — World equities markets reached new heights yesterday after a session-long climb, booking a week of solid gains following a strong US jobs report. The dollar index, which had hit a one-year peak earlier in the session, slightly retreated in late trading as risk appetite...

WASHINGTON, Nov 6 — World equities markets reached new heights yesterday after a session-long climb, booking a week of solid gains following a strong US jobs report.

Nonfarm payrolls increased by 531,000 jobs last month as the surge in Covid-19 infections over the summer subsided, offering more evidence that US economic activity was regaining momentum early in the fourth quarter. “If these numbers continue at this pace, we could probably see full employment at the end of the first quarter,” said Peter Cardillo, chief market economist at Spartan Securities.

“Markets know that the release of strategic reserves can only have a temporary bearish effect on prompt prices and is not a lasting solution for an imbalance between supply and demand,” Rystad Energy head of oil markets Bjornar Tonhaugen said in a note. In Asia, MSCI’s broadest index of Asia-Pacific shares outside Japan was 0.29 per cent lower, while Japan’s Nikkei lost 0.61 per cent.

An index tracking Hong Kong-listed mainland Chinese developers slipped 2.8 per cent, and an onshore China property index lost 2 per cent.While investors were happy with the Fed’s communications, some felt that they had been misdirected by policymakers at the BoE.

Source: News Formal (newsformal.com)

 

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