US jobs data may still boost markets this week
That is, if there are no Q3 earnings surprises that could prove that US economic acceleration is illusory
LAST week, a booming jobs report saved the US stock market from a major decline and the rebound could continue this week as long as there are no nasty surprises from corporate earnings, the retail sector, or Hong Kong.
US employers added almost 250,000 workers in September, and the unemployment rate dropped to 5.9 per cent, within reach of the 5 per cent-level viewed by some economists as the optimum "full employment" level.
One labour market statistic remains at odds with those encouraging numbers, however: the "participation rate" is still falling, meaning that hundreds of thousands of people are dropping out of the labour force. Economists are divided on whether these people are baby boomers opting for early retirement because of new health insurance options available to them, or people of prime working age made redundant by automation technology or otherwise.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Capital Markets & Currencies
Japan may have spent 5.5 trillion yen on Apr 29 intervention, BOJ data suggests
Singapore stocks rise, tracking regional bourses; STI up 0.3%
Asia: Markets build on Wall Street rally, yen holds bounce
Singapore shares open in the red on Tuesday; STI down 0.3%
Stocks to watch: Wilmar, MLT, FEHT, CDLHT, Starhill Global Reit, IReit Global
Europe: Stocks eke out gains after German inflation data; Deutsche Bank drops