S&P 500 slips ahead of September earnings
The US equity markets ended flat on some scepticism over surprisingly strong jobs report on Friday. Unemployment rate was down to 7.8% as against expectation of 8.1% - Lowest level since January 2009.
October 08, 2012 / 08:59 IST
By Gautam Broker, Research Analyst at CNBC-TV18
The US equity markets ended flat on some scepticism over surprisingly strong jobs report on Friday. Unemployment rate was down to 7.8% as against expectation of 8.1% - Lowest level since January 2009.Nonfarm payrolls went up 1,14,000 in September, which came in slightly better-than-expectations.US Labor Secretary says idea that the report was manipulated is "ludicrous". The S&P 500 Index ended marginally in the red ahead of earnings. S&P 500 earnings' are seen declining 2.5% YoY in September quarter.US markets at close on Friday: Dow Jones gained 0.3% at 13,610.4 while S&P 500 Index was down 0.03% to 1,460.9 and Nasdaq Composite fell 0.4% European markets on Friday: CAC rallied 1.6% and DAX surged 1.3% while FTSE was up 0.7%. Spain jumped 1.8% and Italy moved up 2.4%China HSBC services PMI for September is awaited. Previous reading was at 52.The US bond markets and government offices are shut today on Columbus day, but equity markets will remain opened. Currencies The US dollar has strengthened post unemployment report. Dollar Index rose to 79.44 on Friday.Euro fell 0.2% today at 1.301 against the US dollar as against Friday's 2-week high of 1.307.Yen was steady at 78.7 to the US dollar. Commodities WTI crude fell 2% at USD 89.9 a barrel as fear of US strategic petroleum release will keep prices subdued.Brent crude was down 0.5% on Friday at USD 112.4 a barrel on support from North Sea cargo delays.Gold remained rangebound at around USD 1780 an ounce after briefly inching close to USD 1800 an ounce last week.LME Copper was largely unchanged on Friday.Commodities were down today morning: Brent crude declined 0.3% at USD 11.7 a barrel while WTI crude was down 0.4%Copper slipped 0.9% and gold went down 0.3% at USD 1175 an ounce. What to watch out forGermany WPI, Industrial Production Germany Trade data Euro zone Investor confidence Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
