US. Shares rose Friday and reversed losses in the wholesale trade after the Labor Department estimated that the US economy created 136,000 jobs in August, which was enough to bring the unemployment rate to a 50-year low of 3.5% but not to dissuade the Federal Reserve
Investors are waiting for a speech by Federal Reserve Chairman Jerome Powell on late Friday.
How do benchmarks compare?
The Dow Jones Industrial Average
DJIA, + 0.86%
surged 237 points or 0.9% to 26,439, the S & P 500 Index
SPX, + 0.89%
added 28 points or 1% to 2,938, while the Nasdaq Composite
COMP, + 0.92%
improved 78 points or 1% to 7,949.
On Thursday, the Dow closed at 122.42 points or 0.47% at 26,201.04, while the S & P 500 index jumped 23.02 points or 0.8% to 2,910.63 and the Nasdaq Composite Index rose 87.02 points to 7,872.26, an increase of 1.12%.
The Dow is down 1.5% for the week, down 1.3% for the S & P 500, and 0.1% weekly for the Nasdaq. The Russell 2000 Index
ROD, + 0.22% ,
that suffered a bearish "death cross" on Thursday was on the right track to lose 2.1%.
What drives the stock market?
The 136,000 new US jobs created in September were slightly below the 150,000 surveyed by MarketWatch these months than previously thought. The average employment growth of 157,000 over the last three months is enough to keep the unemployment rate on trend, even though employment growth in the US labor market is steadily slowing.
"This is the classic definition of a Goldilocks report," said Michael Arone, Chief Investment Strategist at State Street Global Advisors, on MarketWatch. "Employment growth is slowing, but the labor market is still a strength of the US economy."
The average hourly wage for employees declined 1 cents to $ 28.09, after rising 11 cents in August. Annual wage growth declined from 3.2% in August to 2.9%.
"The only concern is that the average hourly wage has dropped a bit," Arone said. "Some could rate this positively as wages do not rise enough to boost inflation and allow the Fed to lower interest rates again." At the next session, which ends on October 30, the Fed funds futures markets are pricing an 80.7% chance of a cut later in the month, compared to around 90% before the report's release. However, the market still sees a chance of more than 91% for a cutback by the end of 2019.
Employment data of particular importance after reports of US factory activity at the Institute for Supply Management in September showed signs of decline The Tuesday's manufacturing report shows the weakest in about a decade and an ISM report on the Thursday's non-manufacturing sector was the weakest in 52.6% for about three years.
Deputy Chairman of the US Federal Reserve, Richard Clarida, downplayed the odds of a short-term recession late Thursday. He said the risk remained "low on monetary policy" when he spoke at a Q & A session sponsored by the Wall Street Journal.
Clarida gave at his meeting on 29/30. October, no explicit forecast on whether the Fed would cut interest rates again.
Investors also watched developments on the trade front and stocks contributed to their gains late Friday morning after President Trump told White House reporters that "there is a very good chance that an agreement will be reached between the USA and Japan could be achieved China. The two sides will meet in Washington on 10 and 11 October for high-level talks. Speech by Fed Chairman Powell, where he will deliver introductory remarks on employment and price stability at an event organized by the Fed.
Earlier, Eric Rosengren, president of the US Federal Reserve in Boston, spoke at 8:30 am at an event in his home region. Raphael Bostic, head of the US Federal Reserve in Atlanta, spoke at 10:25 in New Orleans. Neel Kashkari, president of the US Federal Reserve in Minneapolis, will speak at 12 noon: 45 pm at an event in his district. Friday's closing will be attended by Fed Governor Lael Brainard, who will host a panel at 2:10 pm, and Fed Deputy Chairman Randal Quarles, who will host a panel at 4:00 pm.
How are other markets trading?  Stocks of Apple Inc .
AAPL, + 2.14%
rose, according to a report in the Nikkei Asian Review, after which the company has urged suppliers to increase the production of its latest iPhone 11 model by 10% or 8 million units to increase.
] Costco Wholesale Corp. .
COST, + 0.78%
reported fourth-quarter earnings after last Thursday, with earnings and sales lagging behind Wall Street estimates, despite 5.1% growth in the same business. met the expectations.
How are other markets trading?
The yield on the 10-year US Treasury note
fell by one basis point to 1.522%.
Gold prices fell after rising on Thursday. Gold for December delivery
fell by $ 3.90 at Comex to $ 1,510.10 an ounce.
Crude West Texas crude for delivery in November
CLX19, + 0.10%
rose 44 cents on the New York Mercantile Exchange to $ 52.90 a barrel.
In Asia, Hang Seng stayed in Hong Kong on Wednesday
fell 1.1% as Hong Kong Prime Minister Carrie Lam banned masks from demonstrating to protest the government's worst crisis in the country since then Sharpening relapse into Chinese rule in 1997 The mask ban comes into force on Saturday.
Meanwhile, the Japanese Nikkei 225
NIK, + 0.32%
added 0.3% after a 2% decline on Thursday. European equities were mostly higher with the Stoxx Europe 600
SXXP, + 0.73%