Global Market Square
The U.S. and European stock markets ended the week with solid gains as the U.S. jobs data was significantly positive and saw the unemployment rate falling in the U.S. to 5.80%, while the Eurozone unemployment rate also fell, to 8.00%.
The employment numbers that rose 101.1% in the past month have become the basis for a deep investor analysis. On the one hand, while there are substantial recovery numbers in the labor market, some industries are reporting significant job shortages. On the other hand, rising consumer prices have positioned the Federal Reserve to begin to eliminate stimulus support sooner than policymakers anticipated.
Several Key economic benchmarks were reported Friday, including:
- U.S. Productivity rose to 5.40%, compared to -3.80% last quarter, higher than the long-term average of 2.20%.
- U.S. Total Nonfarm Payrolls rose to 144.89 Million, up from 144.34 Million last month, a change of 0.39%.
- U.S. Nonfarm Payrolls rose to 559,000, up from 278,000 last month, a change of 101.1% from the previous month.
- U.S. Labor Force Participation Rate: fell slightly to 61.60%, compared to 61.70% last month, and remains below the long-term average of 62.86%.
- U.S. Unemployment Rate: fell to 5.80%, compared to 6.10% last month.
- Eurozone Unemployment Rate: fell to 8.00%, compared to 8.10% last month, which is lower than the long-term average of 9.34%.
- World Real Gross Domestic Product: fell to 2.34%, compared to 2.98% last year, which is lower than the long-term average of 3.49%.
Eurozone Summary for June 4:
- Stoxx 600 closed at 452.48, up 1.69 points, or 0.37%.
- FTSE 100 closed at 7,069.04, up 4.69 points, or 0.07%
- Dax index closed at 15,692.90, up 60.23 points, or 0.39%.
Wall Street summary for June 4:
- The Dow Jones Industrial Average closed at 34,756.39, up 179.35 points, or 0.52%.
- The Standard & Poor’s 500 closed at 4,229.89, up 37.04 points, or 0.88%.
- The Nasdaq Composite Index closed at 13,814.49, up 199.98 points, or 1.47%.
- The Birling Capital Puerto Rico Stock Index closed at 2,650.23, up 18.98 points, or 0.72%.
- The U.S. Treasury 10-year note closed at 1.56%.
- The U.S. Treasury 2-year note closed at 0.14%.