Friday’s Non- farm Payroll figure disappointed the market as it came out below expectations. The U.S. economy added 209,000 jobs during the month of July. This was still slightly positive as it was the sixth month that jobs increased by over 200,000 but missed the forecast. The unemployment rate also went slightly higher, edging up to 6.2%. Following the results, U.S. stocks dropped further, the S&P 500 closed 0.29% lower and the Dow Jones closed 0.42% lower.
Asian markets were mixed following a weaker than expected increase in the U.S Non-Farm payrolls data. The Hang Seng added 0.28% as technology and banking shares increased. Gains were also seen due to speculation that the government is accelerating reforms and helping brokerages free up capital. The Nikkei, however, declined 0.31% as the Dollar increased against the Yen, trading at ¥102.53. The bearish movement for the Nikkei was also caused by Honda Motor Co. which decreased by 1.3%.
European markets are higher today as investors are anticipating a policy meeting for the European Central Bank later in the week. Markets also reacted to a bailout of 4.9 billion euro for Banco Espirito Santo. Traders welcome the news as it prevented a collapse of one of its biggest lenders. In early trade, the CAC 40 was up 0.51% while London’s FTSE 100 was up 0.44% and Germany’s DAX was up 0.11%.
August 4, 2014 – Indices News
Friday’s Non- farm Payroll figure disappointed the market as it came out below expectations. The U.S. economy added 209,000 jobs during the month of July. This was still slightly positive as it was the sixth month that jobs increased by over 200,000 but missed the forecast. The unemployment rate also went slightly higher, edging up to 6.2%. Following the results, U.S. stocks dropped further, the S&P 500 closed 0.29% lower and the Dow Jones closed 0.42% lower.
Asian markets were mixed following a weaker than expected increase in the U.S Non-Farm payrolls data. The Hang Seng added 0.28% as technology and banking shares increased. Gains were also seen due to speculation that the government is accelerating reforms and helping brokerages free up capital. The Nikkei, however, declined 0.31% as the Dollar increased against the Yen, trading at ¥102.53. The bearish movement for the Nikkei was also caused by Honda Motor Co. which decreased by 1.3%.
European markets are higher today as investors are anticipating a policy meeting for the European Central Bank later in the week. Markets also reacted to a bailout of 4.9 billion euro for Banco Espirito Santo. Traders welcome the news as it prevented a collapse of one of its biggest lenders. In early trade, the CAC 40 was up 0.51% while London’s FTSE 100 was up 0.44% and Germany’s DAX was up 0.11%.
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