US stocks rally hinges on February jobs data
US stocks rose last week to the highest level since the start of 2016 because of incipient signs that the 2016 market storm is clearing.
If February jobs data due on Friday is consistent with other reports showing that the US recovery is still alive, stocks could add to those gains. "(The focus) continues to be on whether or not the economy is moving into a recession," said Quincy Krosby, market strategist at Prudential Financial.
China and commodities markets have borne the brunt of the 2016 market storm. Late last week, China's hint of stimulus brought buyers into the Shanghai Composite index and futures for copper and other industrial metals.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Biden vetoes bid to repeal US labour board rule on contract, franchise workers
Economic leaders of South Korea, Japan, China say FX volatility is a risk
US automakers win extension on use of Chinese graphite in EV tax credits
US service sector contracts in April; price pressures up
Thaksin’s daughter calls central bank independence an ‘obstacle’
US jobs growth slows in April; jobless rate up to 3.9%