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Focus on the American Job Report on Tomrock

Focus on the American Job Report on Tomrock

Friday, October 8, 2021 06:32

Amsterdam (ANP) – The stock market trading on Tamrock on Friday is mainly dominated by the official work report of the US government, which will be released later. Earlier this week, figures from the payslip processor ADP showed a sharp rise in the number of jobs in the U.S. corporate sector in September. Employment is of interest to investors in the world’s largest economy because it plays a key role in the Federal Reserve’s interest rate policy. Better-than-expected job reporting increases the likelihood that the central bank will quickly abandon support programs for the economy.

Stocks had a turbulent trading week on the back of the debt ceiling in Washington and fears that inflation would rise further on record gas prices in Europe. However, the US Senate has now approved raising the debt ceiling until December. This prevents the US government from running out of money and preventing the United States from fulfilling its financial obligations.

In terms of start-up indicators, the AEX index in PureSpleen 5 is moving slightly lower after a strong recovery from the previous day. Elsewhere in Europe, markets seem to be opening with small price movements. Asian stock markets were mostly volatile on Friday. In Tokyo, the recovery continued and the Nikkei entered the weekend with a gain of 1.3 percent.

Chinese Service Department

In Shanghai, the stock market traded 0.5 percent higher when investors returned after a week-long holiday. Statistics from market analysts Gaikxin and Markit showed that China’s service sector grew again in September, following the sector’s biggest contraction since the corona epidemic in August. Also, news about the Chinese real estate group Evergrande in financial crisis is still waiting.

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On TomRock, Just Eat Takeaway announced the expulsion of Matt Maloney, founder of the American food distribution group Group. Maloney joined the ownership board of Thuisbezorgd.nl in June this year following the completion of the group acquisition. Maloney will leave on December 1 to pursue other opportunities.

The euro was at $ 1.1541 against the previous day’s $ 1.1565. U.S. oil prices rose 1.5 percent to $ 79.48 a barrel. Brent oil is up 1.3 percent at $ 83.05 a barrel.