Dow jumps 150 points premarket on upbeat jobs report

Friday, 06. December 2019 14:40

Stocks in the United States jumped in premarket trading on Friday following the release of better-than-expected jobs data. The US Bureau of Labor Statistics said that nonfarm payroll employment in the country increased by 266,000 in November and noted the unemployment rate stood at 3.5% in the same month.

Stocks were also boosted by hopes the US and China will reach a phase one trade deal soon after positive comments from both sides. US President Donald Trump claimed that talks are "going well" and that "something could happen" regarding tariffs on Chinese products set to take effect next week and US National Security Advisor Robert O'Brien noted a phase one agreement is "close." Meanwhile, Beijing announced it is planning to provide tariff waivers for American pork and soybean imports.

The Dow Jones Industrial Average surged 0.60% or 165 points at 8:42 am ET. The Nasdaq 100 climbed 0.73% at 8:46 am Et and the S&P 500 was up 0.59% at the same time. The euro lost 0.20% against the dollar to go for 1.10820 at 8:47 am ET and the pound declined 0.23% compared to the US currency to sell for 1.31288 at 8:48 am ET.

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Breaking the News / NP