{"id":147086,"date":"2019-05-06T06:50:24","date_gmt":"2019-05-06T10:50:24","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=147086"},"modified":"2019-05-06T06:50:24","modified_gmt":"2019-05-06T10:50:24","slug":"nasdaq-rallies-to-record-on-strong-jobs-report","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/05\/nasdaq-rallies-to-record-on-strong-jobs-report\/","title":{"rendered":"Nasdaq rallies to record on strong jobs report"},"content":{"rendered":"
May 6, 2019<\/div>
\r\n<\/div><\/div>

By IFCMarkets<\/a><\/p>\n

\n
\n

Dollar weakens despite stronger than expected jobs report<\/h2>\n<\/div>\n<\/div>\n

US stock market <\/b> rebounded solidly on Friday boosted by stronger than expected April jobs report. The S&P 500<\/a> rose 1% to 2945.64, ending 0.2% higher for the week. Dow Jones <\/em> industrial advanced 0.8% to 26504.95. The Nasdaq <\/em> rallied 1.6% to fresh record high 8164. The dollar turned sharply lower despite a report the unemployment rate fell to 49-year low of 3.6% while the Institute for Supply Management services index for April came in weaker than expected. The live dollar index<\/a> data show the ICE US Dollar index, a measure of the dollar\u2019s strength against a basket of six rival currencies, lost 0.4% to 97.46 but is higher currently. Futures on US stock indexes point to lower openings today.<\/p>\n

\n
\n

DAX 30 outperforms European indexes<\/h2>\n<\/div>\n<\/div>\n

European stocks <\/b> recovered on Friday supported by strong earnings and US labor market report. Both the EUR\/USD <\/em> and GBP\/USD<\/em> turned higher but are lower currently. The Stoxx Europe 600 Index added 0.4% led by bank shares. The DAX 30 <\/em> advanced 0.5% to 12412.75. France\u2019s CAC 40 <\/em> edged up 0.2% and UK\u2019s FTSE 100 <\/a> gained 0.4% to 7380.64. Markets in Britain are closed for a bank holiday today.<\/p>\n

\"FR40<\/p>\n

\n
\n

Shanghai Composite leads Asian indexes plunge<\/h2>\n<\/div>\n<\/div>\n

Asian stock indices<\/b> are sharply lower today after President Donald Trump tweeted Sunday he would raise tariffs on $200 billion of Chinese goods from 10% to 25% by Friday expressing his displeasure at China\u2019s \u201cattempt to renegotiate\u201d the trade deal. Nikkei <\/em> was closed for a holiday while yen\u2019s climb against the dollar continued. China\u2019s markets plunged despite Caixin report China service sector grew faster in April and China\u2019s central bank decision to cut reserve requirement ratio to release about 280 billion yuan ($41 billion): the Shanghai Composite Index <\/em> is down 6% while Hong Kong\u2019s Hang Seng <\/em> Index is 3% lower. Australia\u2019s All Ordinaries Index is 0.8% lower despite the Australian dollar continuing slide against the greenback.<\/p>\n

\n
\n

Brent <\/a> tumbles<\/h2>\n<\/div>\n<\/div>\n

Brent futures prices <\/b> are sharply lower today. Prices ended marginally higher on Friday despite Baker Hughes report the number of active US rigs drilling for oil rose by 2 to 807. Brent for July settlement added 0.1% to close at $70.85 a barrel Friday, losing 1.1% for the week.<\/p>\n

\nMarket Analysis provided by IFCMarkets<\/a><\/p>

\r\n
\r\n

Free Reports:<\/p><\/div>\r\n

\r\n

<\/a>\r\n\t Get Our Free Metatrader 4 Indicators<\/u><\/b><\/a> - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter<\/p>

\r\n
\r\n
\r\n

<\/a>\r\n\t Get our Weekly Commitment of Traders Reports<\/u><\/b><\/a> - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.<\/p>

\r\n<\/div>\r\n

\r\n
<\/div>\n

Note:
\nThis overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or \u0430 recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.<\/p>\n","protected":false},"excerpt":{"rendered":"

By IFCMarkets Dollar weakens despite stronger than expected jobs report US stock market rebounded solidly on Friday boosted by stronger than expected April jobs report. The S&P 500 rose 1% to 2945.64, ending 0.2% higher for the week. Dow Jones industrial advanced 0.8% to 26504.95. The Nasdaq rallied 1.6% to fresh record high 8164. The […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-147086","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/147086","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=147086"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/147086\/revisions"}],"predecessor-version":[{"id":147090,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/147086\/revisions\/147090"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=147086"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=147086"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=147086"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}