December 11, 2017
Friday, April 1, 2016

Wall Street extends seven-week rally; Europe shares slump to one-month low

Wall Street extended a seven-week rally on Friday after upbeat US. jobs and factory data hinted at stronger corporateearnings without increasing concerns of potential US interest rate hikes.

The Labor Department's report showed solid gains in nonfarm payrolls in March while the unemployment rate rose to 5 percent from an eight-year low of 4.9 percent as more Americans entered the labor force.

At 2:32 pm, the Dow Jones industrial average was up 0.41 percent at 17,758.34 points and the S&P 500 had gained 0.37 percent to 2,067.32.

The Nasdaq Composite added 0.6 percent to 4,899.00.

Six of the 10 major S&P sectors were higher. The healthcare sector rose 1.01 percent, boosted by Regeneron.

European equities tumbled to a one-month low on the first trading day of the quarter with energy stocks hit by weaker oil prices while Osram retreated after it was dropped from Apple's top supplier list.

The pan-European FTSEurofirst 300 index was down 1.5 percent at its close, hitting its lowest level in a month earlier in the session. The benchmark index fell 7.7 percent in the first quarter.

Japanese stocks tumbled to a 1-month low after the Bank of Japan's quarterly corporate survey showed business sentiment among large manufacturers sank to its lowest level in nearly three years, sapping risk appetite and weighing down stocks across the board.

The Nikkei share average shed 3.6 percent to end the day at 16,164.16, its lowest close since March 1. Japan's benchmark index ended the week 4.9 percent lower.

The Nikkei Volatility Index climbed as much as 27 percent during the session, its highest in more than two weeks.

The broader Topix fell 3.4 percent to end the day at 1,301.40 with each of its 33 subindexes in negative territory. The index ended the week 4.7 percent lower.

The JPX-Nikkei Index 400 declined 3.5 percent to 11,738.40.

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Tags:  US  stock market  Europe  Nikkei  

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