FXEMPIRE
All
Ad
Corona Virus
Stay Safe, FollowGuidance
World
95,495,648Confirmed
2,039,986Deaths
68,212,062Recovered
Fetching Location Data…
Advertisement
Advertisement
David Becker

US stocks were mixed on Friday following a stronger than expected payroll report. Sectors were mixed, with technology and healthcare rising, and energy and real estate underperforming. The dollar hit a fresh 2-month low on Friday, which helped buoy gold and silver prices. Oil prices dropped by nearly 4%, which weighed on energy shares. The US election results moved closer to declaring a winner, as Vice President Biden took the lead in Pennsylvania, Nevada, and Georgia. President Trump was quiet on Friday but did a press conference on Thursday where he accused the system of fraud and said that the Democrats were attempting to steal the election from him. The VIX volatility index, which measures volatility on the “at the money” strike prices on the S&P 500 index, dropped 33% for the week, settling near 25.

Payrolls Rise More than Expected

US nonfarm payrolls increased by 638,000 according to the Labor Department. This is compared to a 530,000 increase expected. The unemployment rate was at 6.9%, compared to expectations that it would be edged down to 7.7%. The September level of 7.9% was unchanged. The decline in the unemployment rate came despite an uptick in the labor force participation rate that rose 0.3 percentage points to 61.7%. An alternative measure that includes discouraged workers and those holding part-time jobs for economic reasons also fell, to 12.1% from 12.8% a month ago.

Advertisement
Know where Gold is headed? Take advantage now with 

75% of retail CFD investors lose money

The Household survey showed a robust 2.24 million increase in payrolls. October’s gains would have been even better if not for the loss of 147,000 Census workers that contributed to an overall fall of 268,000 in government jobs. The biggest job gains came in the hardest-hit sector during the pandemic, as leisure and hospitality jumped by 271,000. Of that total, bars and restaurants increased 192,000.

Advertisement
Don't miss a thing!
Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Trade With A Regulated Broker

  • Your capital is at risk
IMPORTANT DISCLAIMERS
The content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. The content of the website is not personally directed to you, and we does not take into account your financial situation or needs.The information contained in this website is not necessarily provided in real-time nor is it necessarily accurate. Prices provided herein may be provided by market makers and not by exchanges.Any trading or other financial decision you make shall be at your full responsibility, and you must not rely on any information provided through the website. FX Empire does not provide any warranty regarding any of the information contained in the website, and shall bear no responsibility for any trading losses you might incur as a result of using any information contained in the website.The website may include advertisements and other promotional contents, and FX Empire may receive compensation from third parties in connection with the content. FX Empire does not endorse any third party or recommends using any third party's services, and does not assume responsibility for your use of any such third party's website or services.FX Empire and its employees, officers, subsidiaries and associates, are not liable nor shall they be held liable for any loss or damage resulting from your use of the website or reliance on the information provided on this website.
RISK DISCLAIMER
This website includes information about cryptocurrencies, contracts for difference (CFDs) and other financial instruments, and about brokers, exchanges and other entities trading in such instruments. Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money.FX Empire encourages you to perform your own research before making any investment decision, and to avoid investing in any financial instrument which you do not fully understand how it works and what are the risks involved.
FOLLOW US