US Stocks Jump After Strong NFP Numbers, Oil Slumps After OPEC Meeting
December 7, 2015 7:29 am
After November nonfarm payrolls came in at 211k US stocks jumped more than 2% as the number suggested that the US Economy was strong enough to weather the first rate hike in almost a decade. The Dow closed 369 points higher at 17847, the S&P 500 climbed 41 points to close at 2091. However, Asian share markets were mixed, as investors kept a close eye on the markets ahead of Chinese data, though sentiment was buoyed by the potential US rate hike on the 16th of Dec.
On Monday, the Euro was holding at $1.0862, off last week’s $1.0980 peak but still far above the $1.0538 low. The Dollar fared better on the Yen, up at 123.26 from as low as 122.44 on Friday.
Oil prices were near their lowest since 2009 in the wake of the Organization of the Petroleum Exporting Countries’ decision to keep production high despite depressed demand. Brent was last down 27 cents at $42.73 a barrel, while U.S. crude lost 37 cents to $39.60. Gold was trading around the $1083 level. Bottom of the FTSE this morning are Serco. In a statement, the company said underlying profit was expected to hit £95m, while reported trading profit was likely to be “significantly higher” all thanks to either improved operational performance or the renegotiation of loss-making contracts. Meanwhile, cost savings “exceeded” in 2015 and it reckons it can make another £50m of savings on “central support and overheads” in 2016. However, it added that revenue and trading profit will “further decline” in 2016, while underlying trading profit will hit £50m. Due to this news the stock is trading 12% lower in early trade at 102p per share.
After November nonfarm payrolls came in at 211k US stocks jumped more than 2% as the number suggested that the US Economy was strong enough to weather the first rate hike in almost a decade. The Dow closed 369 points higher at 17847, the S&P 500 climbed 41 points to close at 2091. However, Asian share markets were mixed, as investors kept a close eye on the markets ahead of Chinese data, though sentiment was buoyed by the potential US rate hike on the 16th of Dec.
On Monday, the Euro was holding at $1.0862, off last week’s $1.0980 peak but still far above the $1.0538 low. The Dollar fared better on the Yen, up at 123.26 from as low as 122.44 on Friday.
Oil prices were near their lowest since 2009 in the wake of the Organization of the Petroleum Exporting Countries’ decision to keep production high despite depressed demand. Brent was last down 27 cents at $42.73 a barrel, while U.S. crude lost 37 cents to $39.60. Gold was trading around the $1083 level.
Bottom of the FTSE this morning are Serco. In a statement, the company said underlying profit was expected to hit £95m, while reported trading profit was likely to be “significantly higher” all thanks to either improved operational performance or the renegotiation of loss-making contracts. Meanwhile, cost savings “exceeded” in 2015 and it reckons it can make another £50m of savings on “central support and overheads” in 2016. However, it added that revenue and trading profit will “further decline” in 2016, while underlying trading profit will hit £50m. Due to this news the stock is trading 12% lower in early trade at 102p per share.
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