The Labor Market Of The USA Was The Main Source Of A Positive In The Markets

On Friday, investors concentrated their attention on the publication of macroeconomic statistical data. Statistics on the labor market of the USA were weaker than predictions of analysts. Frosts again became the main reason why the quantity of created workplaces appeared below market forecasts. This time, around 262 thousand people could not come to work because of cold weather, which coincided with the figure recorded in December.

The Non-farm payrolls indicator made 113 thousand whereas 185 thousand were expected. The average hourly salary increased by 0.2%%, having coincided with market expectations, and the average duration of the working week remained invariable at a rate of 34.4 hours. Among the positive data, it should be noted that the unemployment rate decreased from 6.7%% to 6.6%%.

As a result, the index of the wide market S&P 500 increased by 1.33%% and finished the week on the level of 1786.58 points, the indicator of blue chips, the Dow Jones Industrial Average, grew by 0.5%% to the level of 15705.84 points, and the index of high-tech industries, Nasdaq Composite, added 1.69%% reaching a value of 4105.38 points.

Oil managed to increase in price due to the retreat of the dollar, and the remaining positive dynamics of the decrease in the unemployment rate in the USA. Brent this morning is traded on a level of 108.46$ per barrel, increasing by 0.36%% and WTI is losing 0.16%% traded on a level of 99.19$ per barrel.

Today we expect a rather quiet trading session, as there are not many important economic reports expected during the day. One of the most important events this week is going to be the press-conference of the new head of the FED, Janet Yellen. Undoubtedly, she will be asked questions concerning the plans of the FED in relation to the target levels of the labor market. Besides that, the publication of the report on retails is another important event of the current week. - See more at: https://www.mayzus.com/en/market-reviews/the-labor-market-of-the-usa-was-the-main-source-of-a-positive-in-the-markets.html#sthash.3iG6e0at.dpuf