The US markets extended their gains yet again on July 5, after labor data reported an increase in nonfarm payrolls in June. As per Friday’s economic data, nonfarm payrolls rose by 206,000, while unemployment also increased to 4.1 percent. Unemployment topped the four-percent mark for the first time since 2021, positioned slightly higher than the market estimates of four percent.
At 9:15pm IST, tech stocks drove the S&P 500 0.30 percent higher to a fresh high of 5,554.20. Top market gainers included Advanced Micro Devices, WestRock, Meta, Intel and Alphabet which rallied between 2.4 to 4.7 percent higher. The Nasdaq Composite rose 0.77 percent to 18,329 after reaching a new all-time high of 18,332.11 during morning trade. The Dow Jones Industrial Average traded flat-to-positive at 39,339.
The GIFT Nifty edged 0.22 percent lower at 24,362.5 after the Indian indices ended positive earlier during the day.
Indian markets were mixed on Friday as banking stocks dragged while the pharma sector saw gains. The Nifty ended flat-to-positive at 24,323.85 while the Sensex declined 0.06 percent to 79,996.60.
DIIs net sold Rs 1,651.36 crores in Indian equities while the FIIs/FPIs continued to buy for a third day in a row, with net purchase for the day at Rs 1,241.33 crores.
The European markets traded lower as investors reacted to the Labor Party’s win in the UK elections. FTSE fell 0.45 percent to 8,203.93 while the Dax traded flat-to-positive at 18,461.29. The CAC also declined 0.26 percent to 7,675.62.
Earlier during the day, the Asian indices ended negative despite the bullish run of the Japanese markets during intraday trade. Nikkei rallied to a fresh high of 41,100.13 during intraday, however, the index gave up the gains and ended flat-to-negative at 40,912.37. The Hang Seng also tumbled 1.27 percent to 17,799.61.
Crude extended gains for a fourth consecutive session, up 0.43 percent at $84.24. Brent also edged 0.27 percent higher at $87.67.
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