US stocks end higher on strong data but post weekly losses

2019-10-05 00:28:30 GMT (Economies.com)
US stocks end higher on strong data but post weekly losses

US stocks rallied during the trading hours today, thanks to strong jobs data and US Fed Chair Jerome Powell's remarks, while the surge didn't all of the weekly losses.

 

The US Bureau of Labor Statistics revealed today that the US economy has created 136,000 new jobs in September, and the unemployment rate unexpectedly declined to by 0.2% to 3.5% (lowest level since 1969) vs. 3.7% in August.

 

President Trump praised the data especially that the unemployment rate has dropped to 50-year low, and criticised the Democrats' attempts to impeach him.

 

Trump also said that he sees a possibility of a final trade agreement with China in the next round of trade talks that will start next week.

 

On the other hand the US Federal Reserve Chairman Jerome Powell stated that the US economy is still in a place despite the surrounding risks.

 

In the oil market, WTI fell by 0.7% to close at $52.81 a barrel, to post a weekly loss of 5.5%, with a session-high of $53.3 and a low of $52.04.

 

Brent rose by 1.1% to close at $58.37 a barrel, and posted a weekly loss of 4.3%, with an intraday high of $58.9 and a low of $57.6.

 

Dow Jones rose by 1.4% or 372 points to close at 26,573 points, with a  0.9% weekly loss, an intraday high of 26,590 and a low of 26,271 points.

 

Nasdaq gained 1.4% or 110 points to 7,982 points, and notched a weekly loss of 0.5%, with high of 7,986 and a low of 7,899.

 

S&P 500 jumped 1.4% or 41 points to close at 2,952, and posted a weekly loss of 0.3%, a session-high of 2,953 and a low of 2,918.

 
 
 
  Symbol Last Change Chg.%
1.1162
-0.0004
0.0354%
1.2980
0.0028
0.2170%
17.710
0.165
0.941%
53.320
-0.388
0.722%
58.76
-0.67
1.13%
1491.325
1.170
0.079%
 
 
US
 
Europe
 
Asia