The Australian market is lower, dragged down by the financial and resource sectors after a disappointing performance in the US. Patersons Securities economist Tony Farnham said the local market was expected to open lower on the back of Wall Street's losses while investors keenly awaited earnings reports from local companies.
Australian bond prices are lower amid glimmers of hope about the US labour market and a heavy domestic bond supply. Non-farm payrolls data, released on Friday, showed that the US jobless rate was just 4.9 per cent in January, the lowest since 2008, indicating a recovery of the nation's labour market.
Feb 7 A relapse in oil prices and a sell-off in global bourses may weigh on Middle East stock markets on Sunday, erasing some of the previous session's gains. Brent futures settled at $34.04 a barrel on Friday, ending the week lower and snapping two weeks of gains, as a frenzy of speculation about a possible deal between top oil producers clashed with concern about a growing supply glut.
And in a note Thursday, UBS equity strategist Julian Emanuel revised his 2016 S&P 500 year-end target down to 2,175 from 2,275. "The 'known unknowns' intensified in January - China equity market and FX instability, a renewed oil price plunge, questions as to whether the Fed made a policy error by hiking in December as US economic data has surprised to the downside.
Investors on Saturday praised the speed with which new Argentine President Mauricio Macri made a cash offer to holders of defaulted bonds aimed at ending a long and bitter dispute that has strangled government finances. A financial markets pariah since defaulting on a record $100 billion in 2002, Argentina proposed on Friday a $6.5 billion payment to settle the legal battle and said two of the leading six "holdouts" in the case had already accepted the discounted terms.
Highlights from the weekly AP photo report, a gallery featuring a mix of front-page photography, the odd image you might have missed and las At first glance, Friday's government report on U.S. hiring was a downer - 151,000 added jobs, well below the pace of the previous few months. Yet once you take a fuller view, a brighter picture of the job market emerges: A sub-5 percent unemployment rate.
In his latest quarterly outlook , Grantham, co-founder and chief investment officer at GMO, outlines his views on the markets and the economy. And in somewhat of a contrast to his recent commentary , sees the oil crash a big tailwind for the economy and doesn't think the stock market, though it is expensive and potentially heading into a bear market , is going to crash.
Cedric Alfonso cuts an avocado as he makes a salad for a customer at the Something Healthy cafe, at 1014 S. Shamrock Ave. in Monrovia. U.S. employers added 151,000 jobs in January and 47,000 of them were at restaurants, bars and other venues that serve food and drinks.
North American stock markets started Friday's session on a negative note after employment data on both sides of the Canada-U.S. border came in below estimates. The Toronto Stock Exchange's S&P/TSX index declined 41.29 points to 12,733.21 after Statistics Canada reported the national unemployment rate increased to 7.2 per cent in January.