US stocks gain on strong jobs report - 11.12.2017

SP 500, Dow log fresh records

US broad stock market ended higher on Friday on stronger than expected November jobs report. The dollar strengthening continued as data showed 228 thousand new jobs were created, more than a 195 thousand expected addition. The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, rose 0.2% to 93.908. S&P 500 rose 0.5% to record high 2651.50. The US broad market index gained 0.4% for the week. Dow Jones industrial average added 0.5% to fresh record 24329.16. The Nasdaq composite ended 0.4% higher at 6840.08.

Bank shares lift European indices

European stock indices extended gains on Friday led by bank shares after agreement on Basel III capital requirements. Both the euro and British Pound ended lower against the dollar. The Stoxx Europe 600 index rose 0.7% to one-month high. The DAX 30 rose 0.8% to 13153.70. France’s CAC 40 added 0.3% and UK’s FTSE 100 jumped 1% to 7393.96 as UK and the European Union agreed on contentious issues of divorce negotiations. Indices opened 0.2%-0.4% higher today.

Asian markets advance

Asian stock indices are rising today building on Friday’s strong gains. Nikkei ended 1.4% higher at 22811.08 as yen resumed weakness against the dollar. Chinese stocks are higher after Chinese central bank injected a net 20 billion yuan ($3.02 billion) into money markets: the Shanghai Composite Index is up 0.6% and Hong Kong’s Hang Seng Index is 1.2% higher. Australia’s All Ordinaries Index is up 0.3% despite a rise in Australian dollar against the greenback.

Oil lower

Oil futures prices are lower today while edging higher. Prices rose Friday on tensions in the Middle East, the threat of a strike in Nigeria and strong Chinese crude imports. February Brent rose 1.9% to $63.40 a barrel on Friday.