Overnight Briefing: American Timezone

USD rose after job data

Mon, May 5 2008, 05:54 GMT
by Jyske Bank Team

Jyske Bank


  • Oil higher

  • Buffett says US in recession

  • Investors eye Yahoo’s alternatives to Microsoft

Today’s main events:

  • NOK: Unemployment numbers

  • USD: ISM Non-manufacturing


American Time Zone:

U.S. Equities

U.S. stocks gained, bringing the market to its first three-week advance since October, as a better-than-forecast jobs report overshadowed a slump in technology shares. The Standard & Poor's 500 Index climbed for a second day after the government said payrolls shrank by 20,000 workers in April, almost three-quarters less than economists had projected.

Marathon Oil Corp. led energy producers to their biggest gain in a week on surging crude prices. Yahoo! Inc. rallied the most in a month on speculation Microsoft Corp. will increase its takeover bid. Sun Microsystems Inc. tumbled the most since 2002, dragging technology stocks lower, after posting a surprise loss.


USD rose after jobs data

The dollar rose to a five-week high against the euro after a government report showed U.S. employers eliminated fewer jobs in April than economists forecast, indicating the labour market is weathering the economic slowdown.


Oil higher

Crude oil rose more than USD 3 a barrel, the most in month, after a government report showed that the U.S. lost fewer jobs than forecast in April and as Turkey renewed its military offensive against Kurdish rebels in Iraq.

Published on  Mon, May 5 2008, 05:58 GMT

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