Jobs report helps Wall Street a step ahead

jobs 1921241c 150x93 Jobs report helps Wall Street a step aheadThe US stock markets closed collectively higher this Friday. Investors reacted positively to the official US jobs report, which is very favorable.

Dow Jones Index, S&P and Nasdaq

The leading Dow Jones Index closed near the psychologically important level of 18,000 points. The Dow increased 0.3 percent at 17958.79 points and the S&P 500 ended 0.2 percent higher at 2075.37 points. The technology exchange Nasdaq also increased 0.2 percent at 4780.75 points.

Jobs

Figures from the US Department of Labor showed that employment in the United States grew at the strongest pace since January 2012 last month. 321,000 jobs were created. Job growth exceeded the most optimistic expectations of economists.

The recovery of the US economy made the central bank to phase out its stimulus this year. The question is at what point the Federal Reserve decides to raise the historically low interest rates. The positive jobs report could accelerate that decision.

Jobs report

” A great jobs report, over the entire width “, stated a Wall Street trader.” “It was a number where investors did not count on, ” he added.

In particular, the shares of the financial groups responded positively to the government report. Goldman Sachs closed 1.8 percent higher. JPMorgan Chase also saw an increase in the fair value, with 2.2 percent.

Euro and Oil

The euro was worth 1.2289 dollars against 1.2303 dollars at the close of European trading day. The price of a barrel of US oil fell 1.7 percent to $ 65.68. Brent oil ended 1.4 percent lower at $ 68.69 a barrel.