A pedestrian appears at an digital citation board displaying numbers of the Nikkei 225 index in Tokyo on September 11, 2020.
Kazuhiro Nogi | AFP | Getty Pictures
SINGAPORE — Asia-Pacific markets are set to start out the brand new week with a blended buying and selling session Monday following “an enormous miss” within the U.S. jobs report launched Friday.
The extensively watched U.S. jobs report for April got here in weaker than anticipated. The report confirmed U.S. employers added 266,000 internet payrolls final month and the unemployment fee rose to six.1%.
However Wall Avenue had solely a light response to the dangerous information. General, the Dow Jones Industrial Common rallied 2.7% final week, whereas the S&P 500 gained 1.2%. Regardless of a 0.9% rally within the week’s remaining session, the Nasdaq Composite shed 1.5% over the identical interval.
“An enormous miss for non-farm payrolls was one other case of ‘dangerous information is nice information’ for US equities on Friday. The 266k addition would in regular occasions be extraordinarily spectacular nevertheless it shocked the market that was anticipating almost 4 occasions that quantity,” analysts from Australian financial institution ANZ wrote in a morning word.
On Monday, traders shall be awaiting numerous information releases from Australia, together with retail gross sales for March and the primary quarter, in addition to the NAB enterprise confidence survey.
The U.S. greenback fell 0.09% to 90.155 towards a basket of its friends in early Monday.
— CNBC’s Thomas Franck contributed to this report.