- Nonfarm Payrolls in the US increased more than expected in October.
- All 11 major sectors of the S&P 500 are rising on Friday.
Major equity indexes in the United States started the day higher as the upbeat labour market data from the United States eased concerns over an economic slowdown. As of writing, the Dow Jones Industrial Average and the Nasdaq Composite were both up 0.55% on the day while the S&P 500 was adding 0.5%.
The US Bureau of Labor Statistics on Friday reported that Nonfarm Payrolls (NFP) in October increased by 128,000 and surpassed analysts’ estimate of 89,000 by a wide margin. Moreover, September’s NFP got revised up to 180,000 from 136,000.
Among the 11 major S&P 500 sectors, which are all in the positive territory in the early trade, the Energy and the Industrials are both up 0.8% to lead the gains. Investors are now waiting for the Institue for Supply Management’s (ISM) Manufacturing Purchasing Managers’ Index (PMI) data.
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