Friday was a busy day Wall Street as the combination of earnings announcements and macroeconomic data shared the spotlight. Data compiled by the Bureau of Labor Statistics indicated the US economy created 261,000 jobs in October, missing the consensus forecast of economists calling for an addition of 310,000 positions. The report also highlighted the jobless rate slipping to 4.10%, its lowest level in close to 17 years.
The investor reaction to the mixed set of figures was muted, with futures of all three major US equity benchmarks moving marginally higher following the release of the payroll figures. On the Federal Reserve front, Jerome H. Powell’s nomination for the Fed chair was widely anticipated. If confirmed, Powell would succeed Janet Yellen, whose term expires in February. S&P 500 futures were last seen trending flat around the 2580-mark after opening slightly lower on the session.
Uneven Labour Data Disappoints as Jobless Rate Falls
Daily Analysis - 06/11/2017