Yahoo Finance FTSE and US markets move higher as US jobs data beats expectations
How major markets are performing on Friday
The FTSE and major European indexes posted gains on Friday, with stocks across Europe looking set to finish the week higher and US stocks also up in early trade.
The FTSE (^FTSE) was up 0.7% by the end of the day while Frankfurt's DAX (^GDAXI) rose 0.8% and the CAC (^FCHI) was up 0.5%. The Stoxx 600 (^STOXX), which tracks European stocks, was 0.9% higher. This marks a run of weeks of gains for European stocks.
The moves follow employment figures from the US. After a quieter autumn, the US unemployment rate has fallen to 3.7%, with the release showing 199,000 new jobs in November. Payrolls were expected to have risen by 180,000 jobs — beating the 150,000 increase in October.
This data is closely watched as an indicator of potential decisions by the central bank on interest rates.
US stocks were up after opening, with the S&P 500 (^GSPC) rising 0.2%, the Dow (^DJI) jumping 0.2% and the Nasdaq (^IXIC) creeping up 0.3%.
The dollar was also up: "Today’s US payrolls numbers have helped prompt a rebound in the US dollar, as US rate cut expectations get dialled back with yields rebounding strongly from their weekly lows, with the US dollar finishing the week strongly higher with the exception of the Japanese yen," said Michael Hewson, chief market analyst at CMC Markets.
Read more: Why you could pay more tax in 2024 – and five ways to avoid it
In UK hiring news, a poll of recruitment firms by KPMG and REC released on Friday morning showed that starting salaries had risen at the slowest pace in 32 months in November, suggesting cooling salary growth and a cut back in hiring plans.
Other releases for Friday include the UN food inflation index for December and an inflation survey from the Bank of England.
Follow along for live updates as the day unfolds:
Watch: Under-pressure UK PM insists Rwanda migrant plan 'will work'
