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A record day for US equities leading up to today’s non-farm payroll print

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A record Thursday for US equity markets saw the Dow Jones, S&P500 and the Nasdaq all close at record highs.

Accendo Markets Analyst, Henry Croft noted – “A stronger than expected private jobs report helped the three major bourses climb throughout the day, with investors expecting a similar beat for today’s Non-Farm Payrolls print. Should it do so, it all but confirms a June rate hike from the Fed, a fact not lost on the Financial sector, which stemmed losses from earlier in the week to lead the S&P and lift the Dow 0.7% higher.”

The European markets are looking pretty buoyant this morning with the DAX and CAC both rising around 1%, no doubt boosted by the prospect of this afternoon’s non-farm jobs report.

Spreadex Analyst, Connor Campbell commented – “The FTSE appears to be gunning for a new record this Friday, surging more than half a percent after the bell to sit just a handful of points below 7600. As for the pound, with no new polls – yet – to cause it to panic it got off to a rather dull start, dipping 0.1% to 0.2% against both the dollar and the euro.” Campbell added “the UK has its own data to deal with, namely May’s contraction PMI. Like its manufacturing counterpart the reading is forecast to see a month-on-month decline, from 53.1 to 52.7, though yesterday’s figure did just about beat expectations.”

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This article does not constitute investment advice. Do your own research or consult a professional advisor.

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