Stocks Start Week on Firm Footing
August 08 2016 - 4:30AM
Dow Jones News
Stocks started the week slightly firmer after Friday's strong
jobs report reassured investors that the U.S. economy remained on
solid ground.
Futures pointed to a 0.1% opening gain for the S&P 500,
which ended Friday with a record closing high.
The Stoxx Europe 600 edged up 0.2% in the early minutes of
trading, led by the banking sector. Shares of Barclays PLC were up
3.2%, while HSBC Holdings PLC added 1.5%.
Earlier, Japan led Asian markets higher as investors in the
region caught up with Friday's better- than-expected U.S. jobs
report. Japan's Nikkei Stock Average gained 2.4% as the dollar
continued to climb against the yen to ¥ 102.1560. A weaker yen
tends to boost the competitiveness of Japanese exporters who
repatriate earnings overseas.
Stocks in Shanghai also rose 0.9%, even after data showed
Chinese exports missed forecasts with a continued drop in July.
In commodities, Brent crude oil was up 1% at $44.70 a barrel
after a recovery late last week, while gold fell 0.4% to $1,339 an
ounce.
Write to Riva Gold at riva.gold@wsj.com
(END) Dow Jones Newswires
August 08, 2016 04:15 ET (08:15 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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