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Dollar, stocks trim gains after U.S. job growth slows

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January 5, 2018

U.S. stock futures and the dollar trimmed gains on Friday after U.S. job growth slowed more than expected in December, although a pick-up in wage gains suggested further labor market strength that could pave the way for interest rate rises.

The dollar index – the dollar measured against six other top world currencies – was flat .DXY after trading marginally higher before the jobs numbers.

In equities, Dow e-minis 1YMc1 were up 0.3 percent, and S&P 500 e-minis ESc1 0.26 percent higher.

The yield on benchmark U.S. 10-year government notes US10YT=RR dipped from Thursday’s close.

“Payrolls came in below expectations, but the details are generally fine. Average hourly earnings rose 0.3 percent and the upward revisions to last month take some of the sting out of the miss against consensus in December,” said Thomas Simons, money market economist at Jefferies in New York.

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This article was posted: Friday, January 5, 2018 at 9:09 am

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