September Daily Review - 04/09

 

1. LONDON - Oil prices fell on Friday, pushing benchmark North Sea Brent crude down towards $50 a barrel, after a cut in European growth forecasts heightened worries over the outlook for demand at a time of huge oversupply.

2. U.S. stocks opened lower on Friday after the August jobs report showed moderate job growth and the lowest unemployment rate in more than seven years, increasing chances the Fed could raise interest rates sooner rather than later.

3. U.S. employers added 173,000 jobs in August, less than widely expected, but the unemployment rate still edged down to 5.1 percent, its lowest level since April 2008, the Labor Department said Friday. Meanwhile, wage growth - which has been stagnant for years -- edged up slightly more than anticipated to 2.2 percent.

4. The dollar turned moderately higher against against the other major currencies on Friday, after data showed that U.S. nonfarm payrolls rose less than expected last month, while the unemployment rate fell more than initially anticipated.

5. Average hourly earnings in the U.S. rose unexpectedly last month, official data showed on Friday. In a report, U.S. Bureau of Labor Statistics, Department of Labor said that Average hourly earnings in the U.S. rose to a seasonally adjusted 0.3%, from 0.2% in the preceding month. Analysts had expected Average hourly earnings to remain unchanged at 0.2% last month.

 

 

 

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