Stocks – Subdued Start on Wall Street After Payrolls

Investing.com – U.S. stocks opened largely flat Friday, as investors digested a slightly weak employment report. While the numbers came in below expectations, hopes that U.S. and China could be set to end their recent trade spat helped to dilute the disappointment.

The index was trading 2 points, or 0.1%, higher by 9:40 AM ET (14:40 GMT), with the up 6 points, or 0.1%. The underperformed, dropping 12 points, or 0.1%. That said, all three indexes are just off their all-time highs.

The U.S. economy added fewer jobs than expected last month, the Labor Department reported Friday, as the employment market cooled at the end of 2019.

rose 145,000 in December, compared with expectations for a rise of 164,000 according to economists’ forecasts compiled by Investing.com. However, let’s not forget 256,000 jobs were created in November (revised from up 266,000), and the remained steady at 3.5%.

This release is unlikely to push the Federal Reserve to move from its accommodative stance, particularly as rose just 0.1 % for the month, versus expectations for a 0.3% rise.

The Fed cut interest rates three times in 2019, as the central bank worried about slowing growth, particularly as the globe’s two largest economic powers, the U.S. and China, engaged in a trade war.

This spat could soon be over, though, with Chinese President Xi Jinping’s chief trade negotiator set to travel to Washington early next week to sign a phase-one trade deal with the U.S..

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.