Wall Street: opens higher (DJ +0.6 per cent) following a weaker-than-expected jobs report

Treasury bond yields are falling sharply. Crude oil prices are down

(Il Sole 24 Ore Radiocor) - Wall Street opened higher following the release of the September employment report. The report showed an increase of 29,000 non-farm jobs in the United States in September, with the unemployment rate rising to 4.2 per cent. The consensus forecast had predicted employment growth of 84,000 and an unemployment rate stable at 4.1 per cent. Following the report, Treasury yields fell sharply, having hit their highest levels since 2002 yesterday – in the case of 10- and 30-year bonds.

Oil prices are falling sharply following reports that some European countries are considering releasing strategic fuel reserves. The Trump administration has been pressing its European allies to release supplies ‘immediately’.

At the start of trading, the Dow Jones gained 275.50 points (+0.54 per cent), the S&P 500 rose by 58.78 points (+0.77 per cent), the Nasdaq rose by 308.43 points (+0.57%). WTI crude oil on the NYMEX fell by 3.95% to $89.20 per barrel.

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