Wall Street closed higher after the best week for US crude oil since March 2023
Wall Street closed in green this Friday. week marked by tensions in the Middle Eastwhich today eclipsed the fall in the US unemployment rate and creation of 254,000 jobs work in the country in September.
At the closing of the trading floor in New York The Dow Jones Industrial Average rose 0.81% to 42,352.; The S&P 500 added 0.90% to 5,751, while the tech-heavy Nasdaq rose 1.22% to end at 18,137.
In turn, the price of Texas intermediate oil closed the session up 0.91%to 74.38 amid tensions in the Middle East, with Israel and Iran threatening regional war. U.S. benchmark crude oil rose 9.09% over the past week. biggest achievement since March 2023.
In recent days, the main indicators have been affected by tensions in the Middle East following Iranian attacks on Israel and Jewish State attacks on Lebanon. On the weekly count, the S&P 500 rose 0.22%, the Dow rose marginally 0.09% and the Nasdaq rose 0.1%.
However, the conflict in the Middle East was overshadowed on the stock market today by news that the country’s unemployment rate fell by one tenth in September compared to August – up to 4.1%, the US Bureau of Labor Statistics reported this Friday. Bye, Net job creation increased again, and 254,000 were created, which is about 95,000 more than created the month before.
“After a summer of weak employment data, the (report) is encouraging that US economy remains resilient and that’s supported by a healthy labor market,” Michele Klüver of investment fund management agency Global X told CNBC.
At the corporate level today Profits of technology companies Tesla, Amazon and Netflix increasedwhich, along with the latest jobs report, helped push the Nasdaq to a new record. Profits prevailed across sectors, led by finance with 1.64%, followed by non-essential goods (1.62%) and communications (1.20%).
In the Dow 30 JPMorgan rose 3.55% and American Express rose 3.02%.as well as losses for Home Depot (-0.78%) and Verizon (-0.76%). Elsewhere in markets, the 10-year Treasury yield rose to 3.969%, gold fell to $2,671 an ounce and the euro traded at $1.0973.