US stock markets powered ahead after the opening bell as private sector jobs data released today painted a much brighter picture than analysts had expected.
US companies added 158,000 jobs in October, according to the latest ADP payroll data, way above the consensus figure of 88,000. Unemployment has been seen as one of the big problems holding the US recovery back, but with a number much higher than expected, markets raced higher. The Dow was 1.25% up shortly after open at 13,259 points, while the S&P 500 was 1.05% higher at 1,426. Investors will be watching for tomorrow's non-farm payroll data as another indicator of the health of the world's largest economy as it gears up for the presidential election on 6 November. Overseas, Eur...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
