(Photo: AP)
new York Investors are looking for direction after conflicting US labor market data. The US standard value index Dow Jones held up 0.2 percent on Friday at 36,311 points. The broad S&P 500 and the technology-heavy Nasdaq lost up to 0.6 percent.
The number of jobs created outside of the US farm surprisingly fell to 199,000 in December from 210,000 in the previous month. Analysts had expected twice as high a plus. Nevertheless, the unemployment rate fell surprisingly significantly. At the same time, wages rose by 0.6 instead of the expected 0.4 percent.
“A messy, confusing job market report,” commented Neil Wilson, chief analyst at online broker Markets.com. The question arises as to whether more jobs were created than reported or whether the numbers indicate a labor shortage. “A bit of both, but there are clear indications of a wage-price spiral that cannot be ignored.”
For this reason, investors are now speculating that the Fed will raise the key interest rate four times instead of three times as previously expected, said Steven Ricchiuto, chief economist for the USA at the investment bank Mizhuo. In response, they parted with government bonds. This drove the ten-year Treasury yield to a two-year high of 1.801 percent.
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Oil price continues to rise – Bitcoin again in the red
The job data put an end to the rise in oil prices for the time being. The US variety WTI was cheaper by just under percent to 78.81 dollars per barrel (159 liters). A resumption of the rally is likely, said analyst Louise Dickson from the brokerage firm Rystad. The reasons for this are production stoppages due to the unrest in Kazakhstan and delivery bottlenecks in Libya due to maintenance work on a pipeline. In addition, the fear of a drop in demand due to the rapid spread of the Omikron variant of the corona virus has given way, interjected analyst Ricardo Evangelista from the brokerage firm ActivTrades.
Bitcoin also fell, losing three percent to $ 41,881. The oldest and most important cyber motto is now behaving in a similar way to other risky asset classes, said Naeem Aslam, chief market analyst at the brokerage house AvaTrade. If these give way, Bitcoin will also come under pressure and vice versa.
Look at further individual values
Game stop: Gamestop caused a sensation in the stock market with a price jump of up to 22 percent. The video game dealer is building a trading platform for so-called non-fungible tokens (NFTs). This involves proof of authenticity and ownership for digital objects such as pictures, pieces of music or real estate in virtual worlds, which then become collector’s items. In the past few months, NFTs had made millions at auctions.
Sonos: The speaker manufacturer’s shares rose 0.2 percent. The International Trade Commission had ruled that Google had infringed some of Sonos’ audio patents with its Nest speakers. In the future, the Internet company will no longer be allowed to import telephones, laptops and loudspeakers that are manufactured overseas. Google plans to appeal the decision.
Draftkings: The sports betting company’s shares rose 4.3 percent in the run-up to legal mobile sports betting in New York state on Saturday morning.
Trade Desk: The provider of advertising technology was upgraded to “Buy” from “Hold” by the analysis company Jefferies. One of the reasons was a new partnership with Walmart. The share gained more than two percent.
New York Times: The newspaper publisher announced that it would buy sports news site The Athletic for $ 550 million. The New York Times shares fell 8.5 percent.
T-Mobile: For the papers of T-Mobile it went 5.5 percent down. The US subsidiary of Deutsche Telekom gained 844,000 new customers in the fourth quarter, fewer than hoped for.
More: These stocks will continue to rise in 2022