2023-11-03 13:51:58
A Wall Street plaque hangs in front of the New York Stock Exchange
The New York Stock Exchange opened higher on Friday after the publication of the monthly employment report in the United States which reinforces the prospect of an end of cycle in the current monetary tightening.
In early trading, the Dow Jones index gained 179.49 points, or 0.53%, to 34,018.57 points and the broader Standard & Poor’s 500 rose 0.68% to 4,347.28 points.
The Nasdaq Composite takes 0.64%, or 85.37 points, to 13,379.56.
An hour before the opening of Wall Street, the US Department of Labor indicated that 150,000 non-agricultural jobs had been created in October while economists polled by Archyde.com forecast an average of 180,000. The September figure was also revised downward, to 297,000 positions.
At the same time, the growth in average hourly wages in the United States stabilized over one month (+0.2%) and its annual growth rate decelerated, to 4.1%.
“The report is consistent with market sentiment that the labor market and economy are decelerating and this will keep the Fed on hold and cause central banks to cut rates next year,” he said. said Jay Hatfield, director of Infrastructure Capital Management.
Traders now expect a 90% probability of a new status quo on Fed rates in December, after the pauses observed during the September and October meetings. This probability was 83% before the US jobs report.
In stocks, technology and growth groups like Tesla, Nvidia and Alphabet advance from 0.80% to 1.42%, while the yield on ten-year Treasuries fell during the session to a low since October 12, at 4.504 %.
Apple, which announced Thursday evening that it anticipated sales lower than expected for the crucial holiday quarter, lost 1.52%.
Block jumped 14.23% after raising its adjusted profit forecast.
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(Edited by Claude Chendjou, edited by Kate Entringer)
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