News - Economics / markets
The latest in a string of better than expected macro data from the US drove markets higher on Friday, with the Nasdaq reaching an 11-year high.
US unemployment hit a three-year low, falling from 8.5% to 8.3% in January, against expectations of no change.
The rate is the lowest seen since February 2009. Non-farm payroll data showed the economy added 243,000 jobs last month, beating consensus forecasts.
The S&P 500 ended the session 1.46% higher at 1,345, its fifth straight weekly gain, while the Dow was 1.23% up at 12,862, its highest closing level since May 2008.
The Nasdaq climbed 1.61% higher to reach 2,906, an 11-year high for the tech index.
Asian stocks built on last week’s gains following the US data, with the Nikkei climbing 1.1% to 8,929.
Meanwhile the euro softened against most major currencies as eurozone leaders worked to agree a Greek debt deal.
The FTSE is expected to open six points down from Friday’s close of 5,901, ahead of the looming deadline for the talks, which will decide whether the country is to default on its debt or accept a new bailout.
Additional reporting by ShareCast
Categories: Economics / Markets | US
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