US mkts post the best week in two months

By Varinder Bansal, Research Analyst at CNBC-TV18

The US markets posted the best week in two months, in spite of non-so-encouraging January jobs report. The Dow Jones Industrial Average ended up 30 points or 0.25% at 12,092 on Friday; it was up 2.3% for week and up 4.5% year-to-date (YTD). The Nasdaq Composite was up 15.4 points or 0.56% at 2,769. It was up 3% for week and up 4.4% YTD. The S&P 500 Index went up 4 points or 0.29% at 1,311; it was up 2.7% for week and up 4.2% YTD. Asian markets opened in the green; Kospi was up 1.6%, Nikkie up 0.6%, Hang Seng up 0.3% and Straits Times up 0.10%. European markets ended higher: CAC was up 0.26%, DAX up 0.31% and FTSE up 0.23%. CBOE VIX fell 4.5% at 15.9. Alert: China, Taiwan markets shut today US Economic News January non-farm payrolls increased by 36,000, considerably less than the 148,000 additions expected Private payrolls increased by only 50,000, against expected 163,000 additions January unemployment rate fell sharply to 9.0% from 9.4% in December while market expected 9.5% Currencies Dollar Index was up 0.3% for its third straight gain Dollar went up 30 bps versus Euro at 1.36 Yen was down 78 bps versus USD at 82.2 Commodities March crude oil contract was down 1.7% at USD 89/barrel on Friday. It was down 0.5% for week. March natural gas contract was down 0.4% at USD 4.31 per MMBtu April gold contract fell 0.3% at USD 1349.5/ounce March silver contract went up 1.1% at USD 29.01/ounce Copper hit an all-time high. Data to watch Monday: Employment trends index, consumer credit, Obama speaks to Chamber of Commerce Tuesday: earnings from Toyota, UBS, Disney and McAfee Wednesday: Weekly mortgage applications, oil inventories, Bernanke testifies before U.S. House, Fannie/Freddie reform hearing, Moody