This Friday, the newly released U.S. non-farm employment grew more than expected in May, partially eased market concerns about the U.S. economic recession. After the data was released, U.S. President Trump praised the employment data for being "excellent". The three major U.S. stock indexes rose sharply on the opening.As of the closing of the day, the Dow Jones Industrial Average rose 1.05%, the S&P 500 rose 1.03%, and the Nasdaq rose 1.20%.
After the non-farm data is released, traders expect the Federal Reserve may only cut interest rates once this year, with a rate cut of less than 50 basis points. In terms of technology stocks, Tesla's stock price rose more than 6% at the beginning of the session as Trump and Musk's war of words has not intensified. The seven US technology giants rose across the board. As of the close, Tesla closed up 3.67%. From a weekly perspective, the Dow Jones Industrial Average rose 1.17% this week, the S&P 500 rose 1.5%, and the Nasdaq rose 2.18%.
The number of new non-agricultural jobs in the United States increased by more than expected in May
This Friday, data released by the U.S. Bureau of Labor Statistics showed that the number of non-farm employment in the United States increased by 139,000 in May, a new low since February this year. The U.S. unemployment rate in May was still 4.2%, which remained the same month-on-month for three consecutive months. In addition, the US non-farm employment data in March and April were reduced by 95,000 people. Analysts believe that this correction offset the positive performance of the US labor market in May, showing potential weakness in the US labor market. Faced with uncertainty in the US government's trade policy and slowing economic growth, companies are cautious about recruitment. After the data was released, US President Trump once again called for the Fed to cut interest rates, saying that the Fed should adjust the benchmark interest rate by one percentage point.
The three major European stock indexes rose and fell on the 6th
International oil prices rose on the 6th. US oil rose more than 6% this week
In terms of crude oil futures, the U.S. non-farm employment data in May was stronger than expected, alleviating market concerns that the U.S. economic slowdown may curb crude oil demand. International oil prices rose on Friday, with the price of light crude oil futures delivered on the New York Mercantile Exchange rising by 1.91%; and London Brent crude oil futures delivered in August rose by 1.73%. From a weekly perspective, the price of US oil rose by 6.23% this week; the price of Brent Oil rose by 3.90%.
International gold prices fell on the 6th, gold prices rose slightly this week
In terms of precious metals futures, US Treasury bond yields and the US dollar rose, international gold prices fell on Friday, and the August gold futures price on the New York Mercantile Exchange closed at $3,346.60 per ounce, a drop of 0.84%. International gold prices rose by 0.94% this week.
Source: CCTV Finance
