US stocks close higher, post weekly gains despite weak jobs data

2019-09-06 23:15:37 GMT (Economies.com)
US stocks close higher, post weekly gains despite weak jobs data

Most of the US stocks rose today, amid the markets' hopes about the next round of the US-China trade talks, while shrugging off weak jobs data and Fed Chair Jerome Powell's remarks.

 

The White House economic adviser, Larry Kudlow, said that he is feeling hopeful about this round of the US-China trade talks ahead of its launch in early October.

 

The US Labor Department revealed today that the job creation slowed to 130 thousand new jobs in August, lower than forecasts of 160 thousand jobs, while the unemployment rate held at 3.7%.

 

The US Fed Chairman Jerome Powell stressed the continued strength of the labor market, while adding that the US Fed doesn't expect a near recession, but also acknowledged that he mostly fears the continued weak inflation.

 

In the oil market, WTI rose by 0.4% to close at $56.52 a barrel, posting a weekly gain of 2.6%, with an intraday high of $56.5 and a low of $54.8.

 

Brent rose by 1% $61.54 a barrel, posted a weekly gain of 1.8%, with a high of $61.1 and a low of $59.4.

 

Dow Jones rose by 0.2% or 69 points to close at 26,797 points, with a weekly gain of 1.5%, with an intraday high of 2,6860 and a low of 26,706.

 

S&P 500 rose by 0.1% or 2 points to 2,978, and hit a weekly gain of 1.8%, a high of 2,985 points and a low of 2,972 ​​points.

 

Nasdaq fell by 0.1% or 13 points to 8,103, posted a weekly gain of 1.8%, a high of 8,134 and a low of 8,098.

 
 
 
  Symbol Last Change Chg.%
1.1019
-0.0001
0.0065%
1.2472
0.0003
0.0236%
17.964
0.513
2.940%
58.477
3.583
6.527%
64.28
-0.12
0.19%
1516.410
27.430
1.842%
 
 
US
 
Europe
 
Asia