![]() The Japanese yen weakened 0.39% versus the greenback at 134.84 per dollar, while sterling was last trading at $1.2633, up 0.49% on the day. In currencies, the dollar index fell 0.059%, with the euro up 0.05% to $1.1016. ![]() However the regional index was still down almost 8% for the week on sharp declines in the previous four sessions after the weekend collapse of First Republic Bank. banks pushing the KBW regional bank index up 4.7%. Investors also paused their exit from U.S. indexes was from technology heavyweight Apple Inc which soared after its quarterly report impressed investors. The biggest boost from a single stock for all three major U.S. crude settled up 4.05% at $71.34 per barrel and Brent ended at $75.30, up 3.86%. Under the hood, oil's rebound helped boost the energy equity index. "The caveats are that one data point does not a picture paint and, to a large extent, employment is a lagging indicator for the state of the economy."īut while decent growth may not lead to more tightening in the short run Sameer Samana, senior global market strategist at Wells Fargo Investment Institute in Charlotte, North Carolina, disagrees with the market's "Goldilocks scenario" where growth slows without a hard recession and the Fed can ease policy quickly. economy and what we saw today suggests it's in a better position that previously expected," said Kristina Hooper, chief global market strategist at Invesco, New York. "The pause button has likely been pressed and now it's about the state of the U.S. After Friday's data, the probability for a July cut declined.īut still Friday's trading suggested a focus on signs of economic strength rather than on the prospects for tighter policy, which often come with stronger than expected data. Since Fed Chair Jerome Powell signaled that the central bank could pause hikes traders have been betting this would happen at the June meeting with some even calling for rate cuts in July, according to CME Group's FedWatch tool. banks also erased some losses after a rough week following the collapse of a third major bank. Oil prices jumped on signs of economic strength, but registered their third weekly decline in a row. Treasury yields rose after the report while the dollar was down very slightly against a basket of major currencies. employers added 253,000 new jobs in April, up from 165,000 in March and exceeding expectations for 180,000. ![]() jobs data brightened the economic outlook and traders pared expectations of Federal Reserve easing after a long spate of rate hikes. Treasuries and gold sold off on Friday as strong U.S. NEW YORK/LONDON, May 5 (Reuters) - A global gauge of stocks rallied and U.S.
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