The markets are ending the week on a positive note after better than expected unemployment figures provided further evidence that we may be at the beginning of an economic recovery. There were 247,000 extra job losses but this was much better than expected and was backed up by the official unemployment figure falling 0.1% to 9.4%.

As a result of these positive figures the Dow Jones is currently up 125 points at 9381 with just minutes to go until the closing bell. Meanwhile the S&P 500 is up 14 points to 1011 whilst the Nasdaq is up 28 points to 2001.

Earlier in Europe the FTSE ended the day up 0.87% to 4731 whilst the DAX and CAC 40 fared even better finishing 1.66% and 1.25% higher at 5458 and 3521 respectively.

On the currency markets the GBP/USD and EUR/USD have given up a lot of their weekly gains today as the US dollar recovers on the back of the unemployment figures. They now stand at 1.6673 and 1.4170 respectively. Meanwhile the USD/JPY has inevitably moved in the opposite direction and is now up to 97.50.

Finally this week the price of gold is ending the week at $960 whilst the price of crude oil remains above $70 at $70.79.

 

 

Filed under: Market News

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