NH1 News Debates


Dec 6, 2015 10:41 PM

Asian stocks markets cheered by US jobs report

The Associated Press

TOKYO (AP) Asian stock markets were cheered Monday by a healthy U.S. jobs report that sent the S&P 500 to its biggest gain since early September.

KEEPING SCORE: Japan's Nikkei 225 jumped 1.5 percent to 19,796.65 and Australia's S&P/ASX 200 rose 0.3 percent to 5,164.80. South Korea's Kospi added 0.1 percent to 1,975.63. Hong Kong's Hang Seng was up 0.3 percent at 22,312.51 and China's Shanghai Composite gained 0.4 percent to 3,537.10. Stock benchmarks also rose in Taiwan, Singapore, Indonesia and the Philippines.

U.S. JOBS: The Labor Department reported that employers added 211,000 jobs in November. That was more than investors expected, and a sign that consumers are still spending and keeping the American economy afloat even as manufacturing and energy companies struggle. The data cements expectations that the Federal Reserve will raise interest rates from a record low at its policy meeting next week. Low interest rates have been a boon for stock markets for several years, but investors also welcome increased certainty about the Fed's likely actions after months of guesswork and anxiety.

WALL STREET: The Dow Jones industrial average rose 369.96 points, or 2.1 percent, to end Friday at 17,847.63. The Standard & Poor's 500 had its best day since Sept. 8, rising 42.07 points, or 2.1 percent, to 2,091.69. The Nasdaq composite increased 104.74 points, or 2.1 percent, to 5,142.27 points.

THE QUOTE: "U.S. markets have rejoiced in the fact that Friday's payrolls were strong enough to cement expectations of a hike next week, but not strong enough to influence the path of rate hikes in 2016," said Chris Weston, chief market strategist at IG in Melbourne, Australia. "The market is assigning a 40 percent probability of a second rate hike by March, which would effectively bring the Fed funds rate to a new range of 50 to 75 basis points," he said in a research report.

CHINA DATA: Market players are also focusing on a slew of economic data due from China. Pessimism about slowing growth in the region's biggest economy has dragged on market sentiment recently. Foreign exchange reserves are due Monday, trade on Tuesday, inflation on Wednesday and retail sales, industrial production and fixed asset investment on Saturday.

ENERGY: Benchmark U.S. crude was down 39 cents to $39.58 a barrel in electronic trading on the New York Mercantile Exchange. The futures contract fell $1.11, or 2.7 percent, to $39.97 a barrel in New York on Friday. Brent crude, a benchmark for international oils, dropped 22 cents to $42.78 in London. It fell 84 cents, or 1.9 percent, to $43 on Friday.

CURRENCIES: The dollar was trading at 123.25, up from 123.12 yen on Friday. The euro slipped to $1.0860 from $1.0884.


Follow Yuri Kageyama: twitter.com/yurikageyama

Her work can be found at bigstory.ap.org/content/yuri-kageyama


--  Dealing with the Disease of Addiction? Click here for help --

More from NH1.com

NH1 News Debates
NH1 News Replay

NH1 on Twitter

NH1 SkyView Cameras

NH1 on Facebook

Check out NH1 News Rail Polls on LockerDome on LockerDome