Worse Than Expected Non-Farm Pay Roll Data, Rolls-Royce Announces Plans to Cut More Jobs
October 5, 2015 5:40 am
US stocks finished the session in positive territory after a volatile session which saw worse than expected pay roll data give way to a rally energy a material stocks that helped the Dow to close 1% higher at 16472, the S&P500 rose a point, bouncing 3 % off its intraday lows to close at 1951. Asian stocks also rallied in Mondays session after Fridays nonfarm numbers dampened expectations for a 2014 rate hike with the Nikkei rising to a 2 week high and closing the session five points above 18000.
The dollar was buying 120.01 yen up about 0.1% and moving away from Friday’s low of 118.68 yen, its lowest since Sept. 7. The euro was trading at 134.80 yen, up about 0.3% The euro rose 0.2% to $1.1235 after climbing to as high as $1.1319 on Friday, a 10-day peak.
U.S. crude futures rose 0.6% to $45.82 a barrel. They surged 1.8% on Friday on a report of a continuing decline in the U.S. oil rig count. Brent crude climbed 0.5% to $48.36 a barrel after it finished nearly 1% higher on Friday. Gold stood tall after surging 2.2% on Friday as the weak U.S. jobs data dented rate hike hopes and worked against the dollar. Spot gold was nearly flat at $1,135.71 an ounce.
Rolls-Royce has announced plans to cut another 400 jobs in its marine business, on top of the 600 job cuts already announced in May. The FTSE 100 listed company announced its plans on Monday, which also include investing more in research and development. The company said the job cuts are due to the low price of oil and a subsequent fall in orders. They will be carried out by the end of 2016. The stock is trading 2.5% higher in early trade at 720p per share. In other equity news Glencore shares have risen 72% in Asian trading and opened 20% higher in London trade after the group reported over the weekend that they were open to asset sales and a possible takeovers. Glencore stock is currently up 10% in London trading at 103p per share.
US stocks finished the session in positive territory after a volatile session which saw worse than expected pay roll data give way to a rally energy a material stocks that helped the Dow to close 1% higher at 16472, the S&P500 rose a point, bouncing 3 % off its intraday lows to close at 1951. Asian stocks also rallied in Mondays session after Fridays nonfarm numbers dampened expectations for a 2014 rate hike with the Nikkei rising to a 2 week high and closing the session five points above 18000.
The dollar was buying 120.01 yen up about 0.1% and moving away from Friday’s low of 118.68 yen, its lowest since Sept. 7. The euro was trading at 134.80 yen, up about 0.3% The euro rose 0.2% to $1.1235 after climbing to as high as $1.1319 on Friday, a 10-day peak.
U.S. crude futures rose 0.6% to $45.82 a barrel. They surged 1.8% on Friday on a report of a continuing decline in the U.S. oil rig count. Brent crude climbed 0.5% to $48.36 a barrel after it finished nearly 1% higher on Friday. Gold stood tall after surging 2.2% on Friday as the weak U.S. jobs data dented rate hike hopes and worked against the dollar. Spot gold was nearly flat at $1,135.71 an ounce.
Rolls-Royce has announced plans to cut another 400 jobs in its marine business, on top of the 600 job cuts already announced in May. The FTSE 100 listed company announced its plans on Monday, which also include investing more in research and development. The company said the job cuts are due to the low price of oil and a subsequent fall in orders. They will be carried out by the end of 2016. The stock is trading 2.5% higher in early trade at 720p per share. In other equity news Glencore shares have risen 72% in Asian trading and opened 20% higher in London trade after the group reported over the weekend that they were open to asset sales and a possible takeovers. Glencore stock is currently up 10% in London trading at 103p per share.
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