NEW YORK (dpa-AFX) – The eagerly anticipated job data from the United States did not provide Wall Street with any significant trend-setting impulses on Friday. “This labor market report will give central bankers a headache,” commented portfolio manager Thomas Altmann from asset manager QC Partners. “An unemployment rate at an annual low and newly created jobs also at an annual low do not really fit together.” According to him, the traffic light for the start of tapering, in other words to reduce expansionary monetary policy measures, remains “on yellow”.
Der Dow Jones Industrial shuttled between small gains and losses in early trading. Most recently it went down by 0.01 percent to 34,750.60 points. Over the course of the week, this means an increase of 1.2 percent. The S&P 500 
decreased by 0.09 percent to 4,396.06 points. The tech-heavy Nasdaq 100 lost 0.36 percent to 14,843.18 points.
In view of the inconsistent signals sent by the US labor market report, Altmann thinks it is quite possible that the US Federal Reserve (Fed) will postpone its tapering announcement to December. Helaba economist Ulrich Wortberg, however, sees no reason for this. Aside from the unemployment rate, he mainly points to the continued rise in hourly wages, which could add to inflation concerns.
In September, only 194,000 new jobs had been created outside of agriculture in the United States, compared with half a billion by experts. At the same time, however, the unemployment rate fell to 4.8 percent and thus far more clearly than expected and stronger than expected, the wage development was also.
Among the individual values, there were only a few companies that came into focus. In the Dow, the shares of Home Depot lost 1.5 percent at the bottom. They suffered from a canceled buy recommendation by Loop Capital. The analysts warn of “considerable risks” for the hardware store chain from supply chain problems and downgraded the paper to “hold”.
Chevron, however, was the top value in the Wall Street Index Dow with plus 2.0 percent and in the S&P 100 ConocoPhillips increased by 3.4 percent and ExxonMobil by 2.4 percent. The three oil stocks are again benefiting from rising oil prices. For the first time since November 2014, the price of a barrel of the US-grade WTI rose above 80 US dollars. The main driver of the price rally remains the tight supply situation.
Against the backdrop of the reporting season starting next week in the US, bank stocks are gradually attracting the attention of investors, all of which have rallied. The major bank JPMorgan kicks off its third quarter report on Wednesday, followed on Thursday by Bank of America, Citigroup, Morgan Stanley Wells Fargo and US Bancorp.
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