Stock Markets Power Ahead On Strong US Jobs Data

Strong US jobs numbers gave global stock markets and the dollar a shot in the arm on Friday, providing fresh evidence for the rude health of the world's top economy

London, (UrduPoint / Pakistan Point News - 6th Dec, 2019 ) :Strong US jobs numbers gave global stock markets and the Dollar a shot in the arm on Friday, providing fresh evidence for the rude health of the world's top economy.

Ahead of Wall Street's opening, the Labor Department reported that the US economy added 266,000 net new jobs in November, vastly higher than market expectations of around 190,000, taking the unemployment rate to 3.5 percent.

In addition, the previous month's numbers were revised up.

"It's not only hard to find any weakness but hard to find anything that isn't strong," XTB analyst David Cheetham said of the jobs report which he called "all around stellar".

European equity markets promptly extended morning gains, with some exceeding one percent as news of American economic strength outweighed concerns about a plunge in German October industrial output.

Wall Street posted solid gains at the opening.