U.S. stock index futures extended gains today after data showed the economy added more jobs than expected in February.
U.S. employment gains surged in February, the clearest sign yet of labour market strength that could further ease fears the economy was heading into recession and allow the Federal Reserve to gradually raise interest rates this year. Nonfarm payrolls increased by 242,000 jobs recently, the Labor Department said on Friday. The unemployment rate held in an eight-year low of 4.9 percent even as more and more people piled into the labor market. Stock markets worldwide edged higher as investor concerns in regards to a weakening global economy eased, following encouraging data from major economies this week.Crude oil futures edged up on Friday, building on the week’s gains, as traders and analysts eyed U.S. jobs data which could give further momentum to rising prices. Brent futures rose 19 cents to US$37.26 a barrel as of 1203 GMT, after settling 14 cents higher in the previous session. The crude benchmark is set to end the week with a gain of more than 5 per cent.
U.S. crude futures traded up 13 cents to $34.70 a barrel, having settled down 9 cents in the last session.Freeport-McMoRan Inc.’sagreed to sell part of its stake inside a copper-gold project in Serbia to Lundin Mining Corp.for as much as US$263 million, included in its drive to offload assets to cut its debt by about $5 billion. Shares of Hewlett Packard Enterprise was up 8.1 percent at US$13.60 premarket following the company reported better-than-expected profit and revenue.
? Thomson Reuters 2016