OPENING CALL: The Australian share market is expected to open higher. The SPI200 futures contract expected to open up 35 points.
The U.S. job market strengthened in November, as employers added 266,000 jobs and unemployment matched a 50-year low, fueling the economic expansion.
Global investors likely have a long wait before the Saudi oil giant’s expensive shares are priced at a more normal level.
Overnight Summary
Each Market in Focus
U.S. stocks rose after a surprisingly upbeat monthly jobs report signalled strength in the U.S. economy, offsetting some of the jitters about trade that rattled investors earlier in the week.
The Dow Jones Industrial Average advanced 337.27 points, or 1.2%, to 28015.06. The S&P 500 added 28.48 points, or 0.9%, to 3145.91, and the Nasdaq Composite rose 85.83 points, or 1%, to 8656.53.
EUR/USD erased the bulk of this week’s strong rise, extending falls after today’s above-forecast U.S. sentiment data followed earlier stellar U.S. jobs data.
EUR/USD weakened 0.4% to 1.1058, its lowest since the start of this week and well below Wednesday’s one-month peak of 1.1114. The euro also broke below chart support at 1.1052, the 50-day moving average.
Overseas, the benchmark Stoxx Europe 600 index climbed 1.2%. U.K. markets remained volatile ahead of a general election next week.
The FTSE 100 rallied 1.2% on Friday, lifted by the U.S. jobs data and speculation that Prime Minister Boris Johnson’s Conservative Party will come out on top in the vote.
Such an outcome would reduce uncertainty around the U.K.’s withdrawal from the European Union.
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