PARIS (Reuters) – The New York Stock Exchange opened in the green on Friday after the publication of the monthly report on employment in the United States which showed a slowdown in wage growth month on month in may.
In early trading, the Dow Jones index gained 334.52 points, or 1.01%, to 33,396.09 points and the broader Standard & Poor’s 500 rose 0.97% to 4,262.06 points.
The Nasdaq Composite takes 1.06%, or 138.26 points, to 13,239.24.
Futures indices on Wall Street, which were already positive after the US Senate passed the bill on Thursday evening to temporarily suspend the country’s debt ceiling, increased their gains after the report was released. employment official.
According to the US Department of Labor, 339,000 non-farm payrolls were created last month, while the Reuters consensus predicted 190,000.
Analysts note, however, that the number of job creations in May is only slightly higher than the revised April (294,000), while the unemployment rate rose to 3.7% after 3.4% the previous month. In addition, growth in the average hourly wage slowed to 0.3% in May after +0.5% in April, bringing its year-on-year increase to 4.3%, against 4.4% previously.
For many investors, these admittedly contrasting figures could prompt the Federal Reserve (Fed) to take a break from tightening the cost of credit. The Fedwatch Barometer still gives a 70% chance of a status quo on interest rates at the June 13-14 Fed meeting.
“It’s a reflection of a labor market that, while still robust, is softening slowly, not quickly. That’s exactly what the Fed would like to see,” said Art Hogan, market strategist at B Riley Wealth. .
“The Fed wants to control inflation without crushing the labor market, and this is further proof that it is on track to do so,” he added.
In values, Lululemon Athletica jumped 16.15% after the sporting goods distributor raised its sales and profit forecasts for the full year. In its wake, the Nike action takes 3.24%.
Dell is in the green after its quarterly results, while Broadcom gains 2.34% after its forecast. Its competitor Nvidia, which reached 1,000 billion dollars in market capitalization this week, advances by 0.93%.
(Written by Claude Chendjou, edited by Blandine Hénault)
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