Attempt to react to the Wall after the data on employment

Slight gains in major Wall Street indexes on Friday, as the US market absorbed the encouraging data on employment in the US announced today and showed that the US economy added almost half a million jobs in March, while the unemployment rate fell to new two-year low.

The US stock market reacts after the significant losses recorded in yesterday’s session, while on a quarterly basis it closed in the “red”, in the first quarter of losses from the first quarter of 2020, which was marked by the onset of the coronavirus pandemic , both in the US and globally. In particular, in first quarter of 2022the Dow fell 4.6%, the S&P 500 fell 4.9% and the Nasdaq lost 9.1%.

In particular, the US Department of Commerce announced today that the US economy added another 431,000 jobs in March, leading the unemployment rate to 3.6%, at the lowest level since February 2020, from 3.8% last month. Something that is expected to allow the Federal Reserve to continue tightening its policy in the coming months to tackle the inflation rally to a 40-year high.

At the same time, the ministry revised its measure for February to 750,000 jobs from 678,000 initially. Analysts’ average estimates in a Bloomberg poll put the number at 490,000 new jobs in March, with unemployment falling to 3.7%.

“The data may not be spectacular, but they show stability,” said Thomas Simons, a Jefferies economist. “We do not think anything will change for the Fed, as there is nothing in favor of raising interest rates by 50 basis points in the next session,” he added.

In others macro, mixed picture presents the manufacturing industry in the US according to two different reports that saw the light of day today.

In particular, according to her research data S&P Global Manufacturing activity improved in March, with the relevant PMI climbing to 58.8 points from 57.3 points in February, surpassing the preliminary measure of 58.5 points.

In the opposite direction, the research by the Institute for Supply Management showed a slowdown in manufacturing in March, with the national activity index falling to 57.1 from 58.6 in February. Analysts’ average estimates in a Reuters poll put the index at 59.0.

Meanwhile, after the announcement of employment data in the US its performance 2-year government bond strengthened by about 11 basis points close to 2.43%, while its yield 10 years is set at 2.415%. The dollar adds 0.2% on Friday, according to the ICE US Dollar.

Indicators – Statistics

On the dashboard the industrial Dow Jones gains 0.25% to 34,760 points, the widest S&P 500 adds 0.2% to 4,540 units and the technological Nasdaq increased by 0.34% to 14,270 points.

From 30 shares which make up the industrial index, 18 are moving with a positive sign and 12 with a negative one. Chevron leads the gains with an increase of 1.62%, followed by Visa Inc (+ 1.29%) and Dow Inc (+ 1.22%). The biggest losses are recorded by Walgreens Boots (-2.8%) and Intel (-0.8%).

US-listed Chinese stocks are rising after a report that Chinese authorities would give US regulators full access to control reports. Thus, DiDi Group Holding increases by 22%, Biliblii adds almost 10%, Pinduoduo also 10%, iQIYI Inc. records gains of 9%, Alibaba Group Holding adds 7% and NIO gains 6%.

GameStop is jumping 6% in the wake of the announcement that it will proceed with a split of its share. The company, as reported by Reuters, will raise the issue with the General Assembly. of its shareholders in order to proceed with the relevant plan.