The major indices are closing with modest changes after erasing large declines after the stronger-than-expected jobs report. The Dow industrial average closed higher while the S&P and NASDAQ index closed marginally lower. Final numbers are showing Dow industrial average rose 33.94 points or 0.10% at 34428.94 S&P index fell -4.96 point surmounted 0.12% at 4071.62
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The U.S. job market beat expectations again in November, adding 263,000 payrolls led by the service sector. Leisure and hospitality was the top category for job gains, according to a report from the U.S. Bureau of Labor Statistics, adding 88,000 jobs. Roughly 62,000 of those jobs were in food and drink services, the report said.
Urad, and Moong. In the crop year 2022-23, Tur production would remain lower by 9.8% year on year to 3.47 MMT against 3.84 MMT in the previous year. Tur production would drop in Karnataka by 10% to 0.84 MMT, in Maharashtra by 23% to 0.90 MMT and in Telangana by 42% to 0.15 MMT while
The tone of the markets was well set by Fed Chair Jerome Powell’s indication of smaller rate hike in the upcoming FOMC meeting. The biggest reactions were found in treasury yields, which decline was surprisingly steep. US stocks ended higher but upside momentum appeared to be diminishing. Dollar was sold off broadly and closed as
NZD/USD is set to finish the week with gains of 2.56%. The November US Nonfarm Payrolls suggested a tight labor market, so the Federal Reserve needs to keep hiking rates. NZD/USD Price Analysis: Daily close above 0.6400 exacerbates a rally towards 0.6570s. The New Zealand Dollar (NZD) climbed against the US Dollar (USD) for the
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The price of crude oil futures settled at $79.98. That is down -$1.24 or -1.53%. The OPEC+ meeting will take place virtually on Sunday. No change in production is expected. The price cap looks to be set at $60 for Russian oil The Russian sanctions will also go into effect cutting off all imports of
We’re back to where we started. US markets have completely erased the moves after the strong non-farm payrolls report. The S&P 500 is now down just 5 points to 4071 and on track for a weekly close above 200-day moving average for the first time since April. It’s an impressive performance. More curious is the
A ‘help wanted’ sign is displayed in a window of a store in Manhattan on December 02, 2022 in New York City. Spencer Platt | Getty Images As far as jobs reports go, November’s wasn’t exactly what the Federal Reserve was looking for. A higher-than-expected payrolls number and a hot wage reading that was twice
Just a month after the controversial fall of Sam Bankman-Fried’s FTX exchange and 130 affiliated companies, a former high-ranking executive is reportedly seeking out investors to launch a crypto startup. The ex-president of FTX US, Brett Harrison, is on the lookout for $6 million in funding to launch a start-up that would build crypto trading
The US has welcomed the USD 60-per-barrel price cap on Russian oil, describing it as an “important tool” that will benefit emerging markets and low-income economies and further cripple President Vladimir Putin‘s finances used to fund his “brutal invasion” on Ukraine. The European Union reached a deal on Friday for a USD 60-per-barrel price cap
Market are back in full risk-on mode after Fed Chair Jerome Powell affirmed that smaller rate hike would be delivered in December. Positive sentiment continued in Asia with China softening some of its pandemic restrictions. Dollar is in broad based selloff, followed by Canadian Dollar and Swiss Franc. Yen is currently the strongest one, responding
The Indian rupee is likely to depreciate moderately due to the potential strengthening of the US dollar in the near term, according to analysts at MUFG Bank. They forecast USD/INR at 82.300 by the end of the first quarter of next year and at 80.500 by the third quarter. Key Quotes: “Tracking gains in most
USDJPY rally stalled at the 38.2% retracement today As stocks moved back higher and yields moved lower, the US dollar is getting weaker.The USDJPY is back below its 200 day moving average of 134.506. Closing below the level today would be the first time the currency pair closed below that since February 23, 2021. The
Markets: Gold down $5 to $1797 WTI crude oil down 99-cents to $80.22 US 10-year yields down 2.4 bps to 3.50% S&P 500 down 10 points to 4072 JPY leads, CAD lags The US dollar was soft all week in the lead-up to non-farm payrolls and that was particularly true of USD/JPY in the hours
A Now Hiring sign at a Dunkin’ restaurant on September 21, 2021 in Hallandale, Florida. Joe Raedle | Getty Images The unemployment rate in the U.S. declined for Hispanic workers and Black women in November, while the overall rate held steady. Hispanic workers saw unemployment dip to 3.9% last month, down from 4.2% in October,