Wall Street is waiting for the November jobs report (Getty)
Limited setbacks US stocks During Thursday’s trading, following Big earnings dayso that attention remains attached to the jobs report for the month of November ending, which is expected to be published on Friday, before the start of the trading session.
And following only one day of strong rises, prompted by the statements of Federal Reserve Chairman (US Central Bank) Jerome Powell, in which he expected to start easing the pace of interest rate hikes at this month’s meeting, the Dow Jones and S&P 500 indices were in the red zone, while he survived. Including the Nasdaq index, although it remained close to the break-even point.
In Thursday’s trading, the Dow Jones Industrial Average lost more than half a percent, the S&P 500 lost nearly a tenth of a percentage point, while the Nasdaq gained 0.13%.
Despite the good start, following the previous day’s gains and optimism, investors preferred to be cautious, waiting for the non-farm payrolls data, the wage levels, and unemployment rateall of which will be announced Friday morning in Washington.
Gold prices jumped 2% on Thursday, surpassing $1,800 an ounce The dollar fellon the back of Powell’s remarks the day before.
And while the European Union was approaching a final agreement on the status of Russian oil price cap Transported by sea, oil prices rose two dollars a barrel on Thursday, in anticipation of the “OPEC +” alliance cutting production once more, at its expected meeting on Sunday.
And the black gold prices supported the easing of restrictions related to Covid-19 in China, as it is the largest importer of crude oil in the world.
Crude prices also got support from the dollar’s decline following data on factory activity in the euro zone and following Powell’s comments on Wednesday. A lower dollar makes oil cheaper for holders of other currencies.
Brent crude rose 2.2%, to $88.84 a barrel, and US West Texas crude futures increased 2.5%, to $82.57 a barrel, during Thursday’s trading, before they rebounded once more, approaching their price at its inception, upon settlement.
