Sheriff Adel (Washington)
Data from the Labor Department released yesterday morning in Washington showed that 263,000 new jobs were added in the month ending November as stock and bond prices fell on fears that the Federal Reserve would continue to tighten policy. monetary policy, against the background of the continued strength of the labor market, before it regained its balance in the last minutes of the trading session.
And after losing more than 300 points in less than half an hour into the session, due to good and bad news for the markets, the Dow Jones Industrial Average made up for its losses, and finished the day with a slight the increase did not exceed 0.10% and the Nasdaq and S&P 500 indices reduced their losses to 0.18% and 0.12% respectively.
The bright spot in the end was that the three indices made weekly profits, which in the Nasdaq index exceeded 2%.
US stock markets benefited in the last few days of the week from the momentum received from statements by Federal Reserve Chairman Jerome Powell, who hinted Wednesday that the bank could begin to ease the rate of rate hikes, starting with the fourteenth meeting this month .
It was clear on Friday that the mere release of positive labor market data for once would not be enough to dampen investor enthusiasm.
In a snapshot showing continued inflationary pressures on Federal Reserve officials, average wages rose in November to finish 0.6% from the previous month and 5.1% from November of last year, even though the expectations were in the range of 4.6%.
Powell had confirmed on more than one previous occasion that he and his colleagues at the bank would not stop raising interest until wages stopped rising at rapid rates and hiring slowed in American corporations.
Following the data release, US Treasury bond yields increased, exceeding the 10-year yield, the most important in the US market, by 3.6% after it had been below 3.5%. A few minutes before the end of the session, the yield dropped below 3.5% again.
