Market Headlines – 6/11/2017

Posted 06 Nov 2017 by Alan McCarthy


  • US stocks gained 0.3% Friday following a mixed batch of economic data releases and high-profile earnings reports.
  • The US economy added 261,000 jobs in October, falling well short of expectations, although there was a net 90,000 revision to the previous two months’ readings which softened the headline miss.
  • Elsewhere on the economic data front, the Institute of Supply Management (ISM) index for the service sector hit 60.1 in October (a reading above 50 indicates expansion), a 12-year high. This highlights the strength of the underlying economy and likely keeps the Fed on track to hike rates in December.
  • Attention for the week ahead will turn to the US tax plan, President Trump’s tour of Asia, and US department store earnings, with focus on the key upcoming holiday quarter.



  • The Euro Stoxx 50 index closed unchanged Friday, rounding off a strong week of gains in which technology stocks outperformed.
  • In FX markets, the euro reversed early gains against the dollar to close 0.4% lower. Sterling, however, closed up 0.1% against the dollar after Thursday’s 1.4% decline following the BoE’s dovish outlook statement.



  • Markets traded mixed in Asia this morning following comments from Chinese central bank Governor Zhou on excessive leverage in the system.
  • Chinese equities actually finished 0.5% higher for the session, recovering into the close having been down as much as 0.4% at one point. Japanese stocks closed marginally higher, with Consumer Discretionary and Energy stocks contributing the most gains.


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