The Fort Worth Press - Stocks rise on eve of US payrolls; gold shines

USD -
AED 3.672984
AFN 68.502866
ALL 89.150085
AMD 387.83014
ANG 1.800958
AOA 932.498782
ARS 965.254376
AUD 1.464065
AWG 1.8025
AZN 1.701759
BAM 1.758607
BBD 2.017597
BDT 119.412111
BGN 1.758761
BHD 0.376902
BIF 2894
BMD 1
BND 1.290407
BOB 6.920459
BRL 5.537598
BSD 0.999267
BTN 83.475763
BWP 13.157504
BYN 3.269863
BYR 19600
BZD 2.014271
CAD 1.35265
CDF 2869.999631
CHF 0.846915
CLF 0.033444
CLP 922.80948
CNY 7.052199
CNH 7.057385
COP 4161.75
CRC 518.220444
CUC 1
CUP 26.5
CVE 99.25009
CZK 22.617102
DJF 177.720061
DKK 6.712335
DOP 60.249923
DZD 132.595193
EGP 48.653303
ERN 15
ETB 119.750096
EUR 0.899961
FJD 2.220799
FKP 0.761559
GBP 0.7491
GEL 2.714994
GGP 0.761559
GHS 15.696816
GIP 0.761559
GMD 69.000097
GNF 8652.500441
GTQ 7.729416
GYD 209.069573
HKD 7.786355
HNL 24.84958
HRK 6.799011
HTG 131.69975
HUF 355.290257
IDR 15176
ILS 3.786365
IMP 0.761559
INR 83.54385
IQD 1310
IRR 42092.501249
ISK 136.510222
JEP 0.761559
JMD 156.996035
JOD 0.708699
JPY 143.470499
KES 128.999851
KGS 84.25001
KHR 4070.000056
KMF 441.34984
KPW 899.999433
KRW 1334.845013
KWD 0.30505
KYD 0.832741
KZT 480.493496
LAK 22082.503591
LBP 89599.999953
LKR 304.412922
LRD 194.250126
LSL 17.501853
LTL 2.95274
LVL 0.60489
LYD 4.744997
MAD 9.694971
MDL 17.422737
MGA 4549.999932
MKD 55.392024
MMK 3247.960992
MNT 3397.999955
MOP 8.013938
MRU 39.715022
MUR 45.72012
MVR 15.359884
MWK 1735.999832
MXN 19.429298
MYR 4.203503
MZN 63.85013
NAD 17.502842
NGN 1638.620332
NIO 36.78502
NOK 10.483745
NPR 133.568631
NZD 1.596029
OMR 0.384944
PAB 0.999312
PEN 3.745009
PGK 3.969904
PHP 55.957966
PKR 278.138566
PLN 3.843925
PYG 7777.867695
QAR 3.64025
RON 4.477498
RSD 105.366986
RUB 91.472102
RWF 1342
SAR 3.751963
SBD 8.299327
SCR 13.880449
SDG 601.508699
SEK 10.19654
SGD 1.290765
SHP 0.761559
SLE 22.847303
SLL 20969.494858
SOS 570.999976
SRD 30.4355
STD 20697.981008
SVC 8.7437
SYP 2512.529936
SZL 17.510149
THB 32.931502
TJS 10.622145
TMT 3.5
TND 3.030712
TOP 2.3421
TRY 34.1497
TTD 6.794567
TWD 31.9605
TZS 2729.999522
UAH 41.375667
UGX 3696.560158
UYU 41.587426
UZS 12760.000278
VEF 3622552.534434
VES 36.767003
VND 24620
VUV 118.722009
WST 2.797463
XAF 589.85491
XAG 0.032588
XAU 0.000381
XCD 2.70255
XDR 0.739255
XOF 590.50654
XPF 107.303383
YER 250.324997
ZAR 17.35871
ZMK 9001.190528
ZMW 26.506544
ZWL 321.999592
  • RBGPF

    1.8300

    58.83

    +3.11%

  • SCS

    0.0900

    13.01

    +0.69%

  • CMSC

    -0.0800

    25.07

    -0.32%

  • AZN

    -1.2400

    77.14

    -1.61%

  • GSK

    0.0600

    40.86

    +0.15%

  • BP

    0.2200

    32.86

    +0.67%

  • RELX

    0.8700

    48.86

    +1.78%

  • BTI

    0.4600

    37.9

    +1.21%

  • CMSD

    -0.0150

    25.005

    -0.06%

  • NGG

    0.9300

    70.48

    +1.32%

  • RIO

    1.0100

    64.58

    +1.56%

  • BCE

    0.0600

    35.1

    +0.17%

  • BCC

    4.1500

    141.65

    +2.93%

  • RYCEF

    0.1100

    7.06

    +1.56%

  • VOD

    0.1000

    10.11

    +0.99%

  • JRI

    -0.0200

    13.3

    -0.15%

Stocks rise on eve of US payrolls; gold shines
Stocks rise on eve of US payrolls; gold shines / Photo: © GETTY IMAGES NORTH AMERICA/AFP

Stocks rise on eve of US payrolls; gold shines

US and European stock markets rose Thursday on the eve of key US data, while gold set another record peak on the back of geopolitical tensions and hopes of interest-rate cuts.

Text size:

Markets were buoyed after US data released on Wednesday provided a fresh indicator that inflation was easing and Federal Reserve boss Jerome Powell soothed worries around the central bank's plans to cut rates this year.

Frankfurt, London and Paris stocks ticked higher, despite a mixed performance in Asia and with Hong Kong and Shanghai shut for holidays.

Wall Street's main indices advanced as trading got underway.

Gold struck another record peak at $2,304.96 per ounce in Asia, extending its blistering run before paring gains in Europe.

Oil sat near five-month peaks with the international benchmark contract, Brent, close to $90 per barrel, as traders tracked ongoing turmoil in the crude-rich Middle East, alongside a decision by OPEC+ to maintain its output-cutting strategy.

- 'Soothing tones' -

"The soothing tones of Jerome Powell... were enough for the markets to breathe a sigh of relief," noted XTB analyst Kathleen Brooks.

"The Fed chair said that the Fed remained data dependent, but that the latest inflation figures should not stop the Fed from cutting interest rates."

All eyes will now be on Friday's upcoming non-farm payrolls report, a key indicator for the world's biggest economy.

"Friday's employment figures will shed further light on the state of the underlying US economy and could solidify traders' expectations regarding the timing of the first Fed rate cut," added ActivTrades analyst Ricardo Evangelista.

An equities rally that started at the back end of 2023 has stuttered in recent weeks after a string of reports suggested the US economy was too strong and prices too sticky for officials to begin easing monetary policy this year.

Warnings from decision-makers that they were worried about bringing down borrowing costs too soon have also played on investors' minds, causing them to pare back expectations for how many rate cuts -- if any -- were coming before January.

But those concerns were allayed somewhat Wednesday when Powell said he still saw cuts coming this year.

He told a conference in California that rates, which are at a two-decade high, were doing their job but moving too soon could be "quite disruptive" for the world's top economy.

But if the economy continues to evolve as expected, most Fed participants still anticipate it will be "appropriate to begin lowering the policy rate at some point this year".

Confidence among traders was given an extra lift by figures showing a slowdown in growth in the services sector and a sharp drop in input costs during March, suggesting an easing of inflation.

Weekly unemployment data released on Thursday showed a small uptick in initial claims to 221,000, while continuing claims dipped.

"The key takeaway from the report is the element of softening seen in the initial claims number," said Patrick O'Hare at Briefing.com.

"However, initial claims continue to run well below levels associated with a truly weak labor market and a contracting economy," he added.

The data contrasted with a stronger-than-expected reading of US manufacturing and prices paid earlier this week, which sparked questions about the Fed's rate-cutting timeline.

- Key figures around 1330 GMT -

New York - Dow: UP 0.7 percent at 39,398.51 points

New York - S&P 500: UP 0.8 percent at 5,250.90

New York - Nasdaq Composite: UP 0.9 percent at 16,417.34

London - FTSE 100: UP 0.6 percent at 7,985.01

Paris - CAC 40: UP less than 0.1 at 8,158.18

Frankfurt - DAX: UP 0.3 percent at 18,413.61

EURO STOXX 50: UP 0.3 percent at 5,082.25

Tokyo - Nikkei 225: UP 0.8 percent at 39,773.14 (close)

Hong Kong - Hang Seng Index: Closed for holidays

Shanghai - Composite: Closed for holidays

Dollar/yen: DOWN at 151.60 yen from 151.70 yen on Wednesday

Euro/dollar: UP at $1.0868 from $1.0857

Pound/dollar: UP at $1.2675 from $1.2658

Euro/pound: DOWN at 85.75 pence from 85.76 pence

Brent North Sea Crude: DOWN less than 0.1 percent at $89.29 per barrel

West Texas Intermediate: DOWN 0.1 percent at $85.32 per barrel

burs-rl/lth

L.Davila--TFWP