US mkts recover sharply from day's low to end flat

By Varinder Bansal, Research Analyst at CNBC-TV18

The US markets recovered sharply from days low to end flat. The dollar eased off morning highs, despite poor Jobs report.

There was speculation that European Union may propose a solution for Greece's budget deficit in a meeting weekend.

The Dow Jones Industrial Average ended up 10 points or 0.1% at 10012, after seeing recovery of 177 points from day's low of 9835 on Friday. It was down 0.5% for the week and down 4% YTD (year-to-date).

The Nasdaq Composite was up 15.5 points or 0.7% at 2,141, after seeing recovery of 41 points from day's low of 2100. It was down 0.3% for week and down 5.6% YTD.

The S&P 500 Index rose 3 points or 0.3% at 1066, after seeing recovery of 22 points from day's low of 1044. It fell 0.7% for week and was down 4.4% YTD.

CBOE VIX was down 0.5% at 26. It traded above 29 during the day. CBOE VIX rose 5.9% for week and was up 20.2% YTD.

Technology and materials were the biggest gainers in the US markets.

European shares fell to 3-month low on Friday. The CAC was down 3.4%, DAX down 1.8% and FTSE down 1.5%. Europe witnessed worst weekly performance in 11 months.

US News

The non-farm payrolls were down 20,000 in January, against expected increase of 5,000.

Unemployment rate fell to 9.7%, against expected 10.1%.