Markets trade higher in the lead up to Non Farm Payrolls $CLc1
- Published: 07 December 2012
- US markets traded higher overnight led by gains in Intel and Cisco, with attention now turning to the all important US Non Farm Payrolls data that is due out tonight. Economists are expecting a gain of 93k jobs with the unemployment rate to hold
- Jobless claims fell 25k to a seasonally adjusted 370k while planned layoffs rose for a third month in November. This was partly driven by some keynote bankruptcy's
- The market was softer early after an ECB report forecasted a 0.5% decline in growth
- Leading the gains in the S&P500 were tech stocks while industrial stocks lagged
- Apple fell on the open to a 9 month low before rallying, the stock is 20% of its highs
- Akamai Technologies Inc rallied 9.5% after it agreed to sell services to AT&T
- Tax services provider H&R Block +4.8% after reporting a smaller than expected loss
- DOW +0.30%, S&P500 +0.33% and NASDAQ +0.52%
- The EUR was weaker on poor data whilst the AUD remains strong despite recent cut
- Gold rose 0.3% but technical selling limited gains, Crude fell 1.7% on ECB forecast
