Equities higher, Employment data awaited... Here’s why jobs data may lack energy...
Equities higher, Employment data awaited
World markets have started Friday higher despite a muted lead from Wall Street from the previous session. Oil prices have lifted from their lows earlier in the week but remain fragile.
Employment data in the US will be carefully weighed for a sign that the Fed could decide to increase interest rates next month although this is still largely seen as unlikely in favour of December or early next year.
Asian markets closed mixed with China, Japan and Australia subdued and relatively strong gains for Hong Kong and South Korea.
European indexes are higher following this week’s interest rate cut by the BoE. Regional earnings are also in focus with mixed fortunes, especially among the financial sector; the UK’s partly-taxpayer-owned RBS Group reporting a half-year loss of $2.7 billion.
Wall Street and Toronto are expected to open higher ahead of jobs data in the US and Canada.
Here’s why jobs data may lack energy
With jobs data due Friday, a report estimates that almost 200,000 jobs in the US have been lost due to cheap oil and there may be more losses to come.
Outplacement firm Challenger, Gray & Christmas said Thursday that the job cuts are likely to be high-paid and around 95,000 of them have come from the energy sector.
Most of these losses have been in 2016 and last month, the report says, there was a 796 per cent surge in energy firm lay-offs; 17,725 jobs in one month.
World markets have started Friday higher despite a muted lead from Wall Street from the previous session. Oil prices have lifted from their lows earlier in the week but remain fragile.
Employment data in the US will be carefully weighed for a sign that the Fed could decide to increase interest rates next month although this is still largely seen as unlikely in favour of December or early next year.
Asian markets closed mixed with China, Japan and Australia subdued and relatively strong gains for Hong Kong and South Korea.
European indexes are higher following this week’s interest rate cut by the BoE. Regional earnings are also in focus with mixed fortunes, especially among the financial sector; the UK’s partly-taxpayer-owned RBS Group reporting a half-year loss of $2.7 billion.
Wall Street and Toronto are expected to open higher ahead of jobs data in the US and Canada.
| Latest | 1 month ago | 1 year ago | |
| North America (previous session) |
|||
| US Dow Jones | 18,352.05 (-0.02 per cent) | +2.24 per cent | +4.57 per cent |
| TSX Composite | 14,528.78 (+0.12 per cent) | +2.17 per cent | +0.18 per cent |
| Europe (at 4.30am ET) |
|||
| UK FTSE | 6,767.46 (+0.41 per cent) | +3.39 per cent | -0.22 per cent |
| German DAX | 10,259.81 (+0.31 per cent) | +7.63 per cent | -11.83 per cent |
| Asia (at close) |
|||
| China CSI 300 | 3,205.11 (+0.12 per cent) | -0.07 per cent | -17.11 per cent |
| Japan Nikkei | 16,254.45 (+0.00 per cent) | +3.73 per cent | -21.15 per cent |
| Other Data (at 4.30am ET) |
|||
| Oil (Brent) | Oil (WTI) | Gold | Can. Dollar |
| 43.91 (-0.86 per cent) |
41.63 (-0.72 per cent) |
1368.20 (-0.06 per cent) |
U$0.7681 |
| Aus. Dollar |
|||
| U$0.7653 | |||
Here’s why jobs data may lack energy
With jobs data due Friday, a report estimates that almost 200,000 jobs in the US have been lost due to cheap oil and there may be more losses to come.
Outplacement firm Challenger, Gray & Christmas said Thursday that the job cuts are likely to be high-paid and around 95,000 of them have come from the energy sector.
Most of these losses have been in 2016 and last month, the report says, there was a 796 per cent surge in energy firm lay-offs; 17,725 jobs in one month.
