The U.S stock market is gearing up for a big day for NASDAQ, Dow Jones and S&P 500 as the new jobs report come out.
The U.S BLS (Bureau of Labor Statistics) have finally released its much awaited monthly jobs report (Employment Situation – April 2015) today, highlighting that the American economy have added a staggering 223,000 jobs in April alone. The unemployment rate decreased to 5.4 % from 5.5 %. The unemployment rate last year was around 6.2 % (equivalent to 9.6 million people) which has significantly fallen down to 8.5 million people in April.
Although the total number of people who were unemployed for less than 5 weeks increased to 2.7 million in April, (an increase of 241,000 from last month) the longer term unemployment stats remained relatively unchanged. People unemployed for more than 27 weeks or more were around 2.5 million in April which was pretty much around the same mark last year as well. The number of persons who are employed part time only for lack of better opportunities, remained at the 6.6 million mark, which was the same back in March as well. However on a year over year comparison that number dropped by 880,000.
The investors are expecting a great start to this week’s trading as the people’s confidence in the U.S economy is rising again. The fear of a sluggish US economy and how the growth and productivity rate of the nation was on a downward spiral were raising red flags among investors. If this monthly jobs report didn’t come out the way it did, the U.S stock market could have taken a nose dive. However the latest report seemed to have calm the fears of a U.S slowdown, according to investors.
Other key factors that will help drive the stock market are the results of the recently concluded U.K elections, Thursday’s closing day figures and AOL’s and Nokia’s market movement.
The U.K elections had a significantly positive impact on the LSE (London Stock Exchange), as the FTSE 100 (top 100 companies listed in the LSE) spiked by 2 % as the markets opened. Even the FTSE 250 increased by a little over 3 %. The investors are relived that the elected government will have the ability to govern and legislate in the medium to long term future without any major obstacles and hence bring confidence and reliability back in the investment market. The results of the U.K elections are expected to have a ripple effect on the U.S as well, as investors are relatively buoyed by the recent turn of global events.
As the U.S prepares itself for a surging market before the opening, the investors are looking for ways to make this opening day count and help the economy gain momentum once again.
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