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Difficult! 3.9 million people have lost their jobs for more than 6 consecutive months! Economist: The U.S. job market may stand completely…

Difficult! 3.9 million people have lost their jobs for more than 6 consecutive months! Economist: The U.S. job market may stand completely...

U.S. time, all three major U.S. stock indices closed higher. The Dow and the S&P 500 index rose 0.83% and 0.88% respectively. The Naval index closed 0.7%. All three major stock indices set record highs in intraday and closing. Powered by the rise in crude oil and iron ore prices, the energy and materials sectors led the U.S. stock market.

The data on non-agricultural employment in the United States in November is far lower than expected.

Weak economic data make investors bet on the prospect of financial assistance

The United States released a series of high-profile economic data on Friday. According to the employment report of the U.S. Department of Labor, the number of non-agricultural employment in the United States added 245,000 in November, which is far lower than Reuters’ previous estimate of 470,000, and the lowest increase in six months.

In addition, the report also mentions that about 3.9 million people in the United States have lost their jobs for more than six consecutive months. Economists said that the report only covers the first two weeks of November, and as the current situation goes on, the U.S. job market may completely stagnate in December.

Another data shows that the number of factory orders in the United States increased by 1% month-on-month in October, lower than the growth rate in September, indicating a cooling trend in U.S. manufacturing. Some traders said that the recent weak economic data had instead contributed to the stock market, because investors believed that it would push the U.S. Congress to introduce more financial assistance as soon as possible. Just earlier this week, U.S. lawmakers from both parties announced a $908 billion fiscal rescue plan. Several U.S. media reported that the proposal was supported by lawmakers from both parties on Thursday.

Europe’s three major stock markets rose across the board on the 4th.

Europe’s three major stock markets rose across the board on Friday, with London and Paris closing 0.92% and 0.62% respectively, and Frankfurt closing up 0.35%. Following the rise in crude oil prices, the European oil and gas stock index rose 3.1%, giving a big boost to European stock markets.

Manufacturing activity picked up in Germany in October

Britain-Europe trade negotiations announced the suspension of the pound fell in the short term

On the data side, the number of factory orders in Germany increased far faster than expected in October, making the market generally optimistic about the performance of German manufacturing in the fourth quarter. In addition, late Friday, Britain and the European Union announced a moratorium on trade negotiations, and the two sides still had major differences on specific issues, which caused the pound to fall back against the dollar from a high of nearly two and a half years.

The outlook for crude oil demand has improved. The price of crude oil rose on the 4th.

Crude oil prices rose on Friday, with WTI light crude oil futures closing at $46.26 per barrel and Brent crude futures closing at $49.25 per barrel. At present, the crude oil market is still digesting the news that OPEC and non-OPEC oil-producing countries will increase production moderately from January next year. In addition, the United States is expected to introduce more financial assistance to help improve the outlook for crude oil demand.

Some investors left the market at a profit. Gold prices fell slightly on the 4th.

Gold prices fell slightly on Friday, and gold futures for delivery in February 2021 closed at $1,840 per ounce. Market analysis believes that due to the continuous rise of gold in previous trading days, some investors choose to leave the market at the end of the week.

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