Dow at record high on payrolls report, European mkts gain

The US equity markets closed higher on Friday, driven by payrolls report that was much stronger than expected. The Dow Jones touched another record closing high.

Non-farm payrolls rose 2,36,000 in February as against forecast of 1,71,000 while unemployment rate went down to 7.7 percent as against 7.9 percent MoM.
Meanwhile, private payrolls led with a gain of 2,46,000. Wholesale inventories increased 1.2 percent MoM at USD 504 billion.
The Dow Jones industrial average rose 67.58 points, or 0.47 percent, to 14,397.07, another record closing high. The Standard & Poor's 500 Index advanced 6.92 points, or 0.45 percent, to 1,551.18. The Nasdaq Composite Index gained 12.28 points, or 0.38 percent, to end at 3,244.37. Eurozone update
Germany industrial output declined 1.3 percent YoY.
The rating agency Fitch downgraded Italy one notch to BBB-, citing increased political uncertainty and non-conducive backdrop for structural reforms.
France's CAC went up 1.22 percent while Germany's DAX rose 0.6 percent and Britain's FTSE was up 0.7 percent on Friday. Asian economic data
China industrial production increased 9.9 percent YoY in February, much lower than forecast of 10.6 percent.
China retail sales went up 12.3 percent YoY while producer price index (PPI) was weaker than expected, down 1.6 percent YoY. Watch out for data:
-German import, export data
-German trade balance
-Italy Q4 GDP