Original title: oil prices hit a 7-year high! Us stocks are "turbulent" this week! Non-farm payrolls data in September were much lower than market expectations. Source: CCTV Finance and Economics
On Friday, all three major indexes of the US stock market fell, all down less than 1%, with stocks of technology, medical, entertainment and leisure companies generally lower. The US non-farm payrolls data for September released on the same day was much lower than market expectations. Investors assessed the potential impact of this data on the direction of the Fed's monetary policy, and the trading mood was very cautious.
The slowdown in US job growth in September may affect economic growth in the third quarter.
Specifically, the US non-farm payrolls data added 194000 jobs in September, down sharply from 366000 in August and the smallest increase since January. Economists believe that the US economy and labor force are still constrained by the shortage of workers and raw materials caused by the COVID-19 epidemic, and the slowdown in employment growth may affect US economic growth in the third quarter of this year. Federal Reserve Chairman Colin Powell said in an interview on Friday that a "pretty good" jobs report is needed to allow the Fed to reduce its large-scale bond buying program. September's employment data are bound to make it more difficult for the Fed to make decisions.
The market is volatile and all US stocks have risen this week.
The overall trend of US stocks can be described as "volatile" this week. U.S. stocks fell sharply on Monday and began to rebound in the following days, causing the three major stock indexes to rise. This also seems to confirm the previous view put forward by analysts that "October is the most unstable month of the year." So far this week, all three major stock indexes have risen, with the Dow up 1.2%, recording its best week since June, with the S & P 500 up 0.8% and the Nasdaq the smallest at 0.1%.
Oil demand continues to increase on the 8th, international oil prices hit a seven-year high.
On Friday, light crude oil futures on the New York Mercantile Exchange hit an intraday high of $80 a barrel for the first time since 2014. Analysts say oil demand has risen sharply as the prices of commodities such as natural gas and coal have risen, while OPEC+ on the supply side is restraining the pace of production, leading to a further rise in oil prices. By the close, light crude oil for November delivery on the New York Mercantile Exchange was up 1.34%, while London Brent crude for December delivery was up 0.54%.