December 5, 2013
Wall Street up on Fed-affirming jobs data
The dollar slid to a two-year low against the euro and global equity markets rose for a fifth straight session on Tuesday after weak US jobs data reinforced expectations the Federal Reserve will keep its easy-money policy intact into 2014.
The S&P 500 index, a benchmark for US stocks, closed at a record high, while US Treasuries yields fell to the lowest levels in three months on the labor market report.
On Wall Street, the Dow Jones industrial average ended up 75.46 points, or 0.49 percent, at 15,467.66. The Standard & Poor's 500 Index was up 10.01 points, or 0.57 percent, at 1,754.67. The Nasdaq Composite Index was up 9.52 points, or 0.24 percent, at 3,929.57.
Mixed results on a big day for corporate earnings halted European equity markets near five-year highs today, as investors awaited delayed US jobs data.
Concerns are mounting over earnings which have so far failed to keep up with recent rerating of equity indexes.
By 1000 GMT, the FTSEurofirst 300 was unchanged at 1,281.63. The broader STOXX 600 also was unchanged at 319.48, after eight straight days of gains.