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US stocks hit record high

stocks closed at a record high.

On Wall Street, the energy sector posted its strongest daily showing in seven weeks as stocks tracked the price of oil higher, sending the benchmark S 500 to a record closing high. nonfarm payrolls data. Job growth rebounded sharply last month with 211,000 positions added and the national unemployment rate down to near a 10 year low of 4.4 percent.

The jobs data is "a little bit more confirmation that perhaps the economy is OK," said Chuck Carlson, chief executive officer at Horizon Investment Services in Hammond, Indiana. "That probably is something that helped the broader market."

Markets were rattled overnight as crude initially stumbled further, its weekly decline close to 10 percent at one point, but comments from Saudi Arabia's OPEC governor Adeeb Al Aama helped put a floor under oil prices.

"There's an emerging consensus among participating countries on the need to extend the production agreement reached last year," the official told Reuters.

OPEC, Russia and other producers have agreed to curb production by 1.8 million barre1ls per day until June 30. OPEC ministers next meet on May 25.

The Dow Jones Industrial Average rose 55.47 points, or 0.26 percent, to end at 21,006.94, the S 500 gained 9.77 points, or 0.41 percent, to 2,399.29 and the Nasdaq Composite added 25.42 points, or 0.42 percent, to 6,100.76.

The pan European FTSEurofirst 300 index rose 0.69 percent and MSCI's gauge of stocks across the globe gained 0.46 percent after touching a record high.

Emerging market stocks lost 0.18 percent. Overnight, MSCI's broadest index of Asia Pacific shares outside Japan closed 0.57 percent lower. crude fell almost 4 percent overnight on mounting concerns about oversupply. But weekly declines of close cartier ring replica online to 10 percent were all but halved during New York trading hours.

Concerns over a slowdown in China have hit other commodities, with Chinese iron ore futures down more than 10 percent to this week's low and copper touching its lowest since January.

Quincy Krosby, market strategist at Prudential Financial in Newark, New Jersey, said the slide in commodities would not necessarily drag other markets lower "as long as you accept the thesis that it is all about supply."

"But if you add a slowdown in China," she said, "it becomes a demand story. crude rose 2.09 percent to $46.47 per barrel and Brent was last at $49.45, up 2.21 percent on the day.

Copper rose 0.76 percent to $5,584.85 a tonne.

Spot gold percent to $1,227.59 an ounce. gold futures fell 0.02 percent to $1,228.40 an ounce. dollar hit its lowest in roughly six months against the fake cartier ring euro cartier replica love ring wedding band at $1.0994, down 0.01 percent. jobs data failed to shake investors' bullishness toward the euro ahead of the second round of France's presidential election on Sunday.

Analysts said traders are anticipating the euro will rise above a technical barrier of $1.10 if, as expected, centrist Emmanuel Macron defeats anti EU candidate Marine Le Pen.

The dollar index fell 0.22 percent.

The Japanese yen weakened 0.23 percent at 112.74 per dollar, while Sterling was last trading at $1.2980, up 0.01 percent on the day.

The Canadian dollar was flat versus the greenback at C$1.37 per dollar, after 10 consecutive sessions of declines.

The loonie, the Australian dollar and Russia's rouble , among the world's most commodity sensitive currencies, were all sent spinning overnight but later stabilized.

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By LLLOO6
Added Aug 28 '17

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