Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The European session witnessed the release of many market-moving data.
Nonfarm Payrolls (NFP) in the US rose by 531,000 in October, this reading came in better than the market expectation of 425,000. September’s print got revised higher to 312,000 from 194,000. The Unemployment Rate declined to 4.6% from 4.8% in September, compared to analysts’ estimate of 4.7%. Additionally, the Labor Force Participation Rate remained unchanged at 61.6% and the wage inflation, as measured by the Average Hourly Earnings, rose 4.9% on a yearly basis vs 4.6% in September.
The Unemployment Rate in Canada declined to 6.7% in October from 6.9% in September. Net Change in Employment arrived at +31.2K in the same period, beating the market expectation of 19.3K. The Participation Rate edged lower to 65.3% from 65.5% in the same period and the Average Hourly Wages rose by 2.1% on a yearly basis.
The Dow Jones Industrial Production shares rose to 36,277 points, an increase of 0.42%, equivalent to 153 points, and the S&P 500 index rose, to 4704 points, an increase of 25 points, equivalent to 0.55%, and the Nasdaq index increased to 16,013 points, an increase of 73 points, an increase of 0.46%, supported by positive employment data.
The data of the Bureau of Labor Statistics in the United States today, Friday, on the data of the US labor market during the month of October, showed a positive performance on the US employment data for the first time in 3 months.
