Stock Markets Rise Amid Labor Market Data, Inflation Watch
Equity prices on US and European stock exchanges largely increased Tuesday, as investors assessed recent US employment data and anticipated upcoming inflation figures.
The US labor Department revised data to estimate 911,000 fewer jobs created over the 12 months ending in March. This suggests a weaker US labor market than previously understood, increasing expectations that the Federal Reserve (FRS) may lower interest rates. Investors are now focused on Thursday’s release of consumer inflation data, as persistently high inflation could deter the FRS from easing monetary policy.
Wall Street achieved new records, with the Dow Jones Industrial Average rising 0.4% to 45,711.34 points, the Standard & Poor’s 500 index gaining 0.3% to 6512.61 points, and the Nasdaq Composite increasing by 0.4% to 21,879.49 points.
European markets also saw gains. The london Stock Exchange’s FTSE 100 rose 0.2% to 9242.53 points, and the Paris Stock Exchange’s CAC 40 increased by 0.2% to 7749.39 points. However, the Frankfurt Stock Exchange’s DAX fell 0.4% to 23,718.45 points.
Oil prices increased amid concerns about potential conflict expansion in the Middle East, with WTI crude oil rising 0.6% to $62.63 a barrel in New York and Brent crude oil rising 0.6% to $66.39 a barrel in London. Gold prices continued to climb, reaching a high above $2,368 per ounce.
The Netherlands Stock Exchange’s title Transfer Facility (TTF) decreased 0.4% to 32.93 euros per megawatt-hour.Currency markets saw the euro fall from $1.1763 to $1.1707, the British pound decline from $1.3545 to $1.3527, and the US dollar weaken against the Japanese yen, moving from 147.50 to 147.42 per dollar. The euro’s value against the British pound also decreased, falling from 86.84 to 86.57 pennies.
