Wall Street awaits November jobs report (Getty)
Limited contract times US stocks During trading on Thursday, after Big money dayso that attention remains on the job report for the closing month of November, which should be published on Friday, before the start of the trading session.
And after just one day of sharp gains, spurred by Federal Reserve (Central Bank of the United States) Chairman Jerome Powell saying he expected to begin easing the pace of interest rate hikes at this month’s meeting, indices Dow Jones and the S&P 500 were in the red zone, while he survived, including the Nasdaq index, although it remained close to breakeven.
In Thursday’s trading, the Dow Jones Industrial Average lost more than half a percentage point, the S&P 500 lost nearly a tenth of a percentage point, while the Nasdaq gained 0.13%.
Despite the good start, after the previous day’s gains and optimism, investors preferred to be cautious, awaiting data on nonfarm payrolls, wage levels, and unemployment rateto be announced on Friday morning in Washington.
Gold prices jumped 2% Thursday to surpass $1,800 an ounce The dollar has fallenon the reverse of Powell’s remarks the day before.
And while the European Union was approaching a final agreement on the status of Russian oil price ceiling Seaborne, oil prices jumped by two dollars a barrel on Thursday, in anticipation of the new production cut by the “OPEC +” alliance, at its scheduled meeting on Sunday.
And oil prices have supported the easing of Covid-19 related restrictions in China, as it is the world’s largest importer of crude oil.
Crude oil prices also received support from the dollar’s decline following data on industrial activity in the euro zone and Powell’s comments on Wednesday. A lower dollar makes oil cheaper for holders of other currencies.
Brent crude oil rose 2.2% to $88.84 a barrel, and U.S. West Texas crude futures rose 2.5% to $82.57 a barrel during trading on Thursday , before bouncing again, approaching the initial price, upon settlement.
