Stocks finished the trading week negative, paring a weekly gain for the Standard & Poor’s 500 Index (SPX), after better-than- forecast payrolls failed to keep commodity and technology shares from slumping as Americans prepare to pick a president. The Dow Jones fell by -2.35%, the Nasdaq declined by -0.01% and the S&P 500 declined by -2.56%. Technically, the Dow Jones is still bearish as long as it is trading below the 13,100 resistance level. A break below the support level of 12,980 could send the Index towards the 12,800 level. The Nasdaq remains bearish below the 2,710 level.
USD Dollar (USD)
The US Dollar gained versus most majors after the last jobs report before this week’s election indicated that hiring in the USA increased more than forecast. The report indicated that 171,000 workers were added to payrolls in October after a 148,000 gain the previous month, which was more than estimated. The report comes before Americans go to the polls on November the 6th to decide whether to give President Barack Obama another four years or make a change with Republican challenger Mitt Romney. The market might favor an Obama win since it would mean less uncertainty. Today, the ISM Non-Manufacturing PMI is expected with 54.6 vs. 55.1 previously.
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The USD Rose After The NFP Indicated Increased Hiring In The USA
Published 11/05/2012, 05:28 AM
Updated 01/01/2017, 02:20 AM
The USD Rose After The NFP Indicated Increased Hiring In The USA
US Stock Market
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