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- U.S. equities closed at a record high on Friday after President-elect Joe Biden demanded trillions of dollars in immediate further fiscal support following the weakened work report.
- U.S. businesses shook off 140,000 non-agricultural payrolls last month, with the lack of consensus economist providing 50,000 job additions.
- Check out the most important index updates here.
US equities closed at a record high on Friday to close the first week of trading in 2021. After the market turned lower in the middle of the day, stocks recovered when Elected President Joe Biden asked for trillions of dollars in immediate further fiscal support than the expected job report. The Dow Jones Industrial Average and S&P 500 closed at record highs.
Elected President Biden has called for direct payments to individuals to be increased after the US saw the payrolls decline for the first time since April.
U.S. businesses shook off 140,000 non-farm payrolls last month, the Bureau of Labor Statistics said Friday. The reading is weaker than the consensus economist estimates, according to Bloomberg data provided 50,000 post additions.
Here is where the US indices closed on the ET market on Friday at 16:00:
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BioNTech rose as much as 7% on Friday after a study was published showing that the COVID-19 vaccine is effective against a mutated strain COVID-19 found in the UK in recent weeks.
Enterprise AI software provider C3.ai rose more than 5% on Friday as the company continued its historic run to IPO. Since its public debut in early December, C3.ai has been one of the strongest performers in the market, more than quadrupling in value, and shares now stand at around $ 140.
Gold fell 4.5% to $ 1,288.35 at its lowest day. The US dollar strengthened against all its group-of-10 counterparts, while ten-year treasury yields climbed further above 1%, where it had not been since March.
Oil prices climbed amid a drop in U.S. stocks. West Texas Intermediate crude rose 3.8% to $ 52.74 a barrel. Brent crude, the international benchmark for oil, rose 3.6% to $ 56.31 a barrel on intraday highs.
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