Upbeat Earnings Lift Stocks As Trade Fears Cap Gains And Pressure Dollar

0
Upbeat Earnings Lift Stocks As Trade Fears Cap Gains And Pressure Dollar

NEW YORK – Stocks around the world advanced on Friday on strong earnings, with consumer staples results boosting Wall Street, though a trade spat between the United States and China along with weaker-than-expected U.S. jobs numbers capped gains and weighed on the dollar.

U.S. job growth slowed more than expected in July as employment in transportation and utilities fell, but analysts said the numbers didn’t change their expectations for a September interest rate hike.

“With wages and salaries up 2.7 percent, which is consistent with the 2.9 percent annual increase we saw for private sector workers in the June employment cost index report released earlier this week, a third rate hike in September is all but certain,” said Heidi Learner, chief economist at Savills Studley in New York.

LEAVE A REPLY

Please enter your comment!
Please enter your name here