(An item published at
Early afternoon Friday, the
The blue chip index is trading near to its recent highs, having risen 1.6% over the week so far, on the back of improving economic data from the world's largest economies. An improvement in Chinese PMI data earlier in the week provided a boost the mining sector, while Thursday's US non-farm payroll report provided a general boost to investor sentiment as it indicated that the US economy may well be rebounding strongly from the winter slump.
US non-farm payroll employment rose by 288,000 in June, meaning that over the past 3 months, job growth has averaged 272,000 per month. The headline rate of US unemployment also fell unexpectedly on Thursday to 6.1% from 6.3%, marking the lowest level since
The bumper US jobs report, released ahead of the long US weekend sent global markets up near to, or even through, all-time highs. The DJIA closed Thursday above 17,000 points for the first time in its history, prompting analysts to look towards the next milestone. "Let the countdown to Dow 18,000 commence," Rabobank said in a morning note to clients.
It took about seven months for the DJIA to get from 15,000 to 16,000, and about five months to get from 16,000 to 17,000. "So will we see the next 1,000 points added by September?" asks Rabobank analyst
The US markets won't be making any progress Friday, however, as they remain closed for
"With the sunshine blazing down on London, the temptation to wrap things up in a quiet fashion and salute American
The major European markets are marginally lower, with the German DAX and the French CAC both down about 0.1%.
With nothing left in the data calendar, trading is equally calm in the major currency pairs. The dollar is slightly firmer across the board, with the pound currently trading at
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