WALL Street stocks finished the week on a positive note yesterday following solid labour and consumer data, while the dollar pushed higher.

The US economy added 199,000 jobs in November, while the jobless rate ticked down to 3.7% from 3.9%, according to Department of Labor figures, better than analyst expectations.

“So far, that soft-landing is reinforced by this report,” said Angelo Kourkafas, investment strategist at Edward Jones. “The labour market remains strong but it’s slightly easing.”

All three major indices advanced, with the broad-based S&P 500 winning 0.4%.

“All in all, this report should make you less anxious about a recession,” said Callie Cox at eToro. “The job market is still in a good place, and wage growth is still coming down. That’s what the Fed wants to see.”

US equities initially wavered after the data boosted Treasury yields amid expectations that the strong labour figures could delay the Federal Reserve from cutting interest rates.

But Kourkafas cited robust consumer confidence data also released yesterday as a positive catalyst, noting that the report from the University of Michigan showed improving sentiment about inflation.

The dollar advanced against the euro and other major currencies following the upbeat data.

Elsewhere, European equities advanced, with Frankfurt’s DAX again striking new record trading and closing highs.

But equities in Tokyo suffered another drop, with the Nikkei 225 falling 1.7%. The index experienced a similar decline on Thursday following a surge in the yen.

Oil prices jumped more than 2%, finally advancing after six straight down days in a move analysts attributed to a technical bounce.

Among individual companies, Honeywell International dropped 1.6% after reaching a deal to acquire Carrier Global’s security business for US$5 (RM23.3) billion. Carrier climbed 4.5%.

Key figures around 2150 GMT

New York - Dow: UP 0.4% at 36,247.87 (close)

New York - S&P 500: UP 0.4% at 4,604.37 (close)

New York - Nasdaq: UP 0.5% at 14,403.97 (close)

London - FTSE 100: UP 0.5% at 7,554.47 (close) 

Paris - CAC 40: UP 1.3% at 7,526.55 (close)

Frankfurt - DAX: UP 0.8% at 16,759.22 (close)

EURO STOXX 50: UP 1.1% at 4,523.31 (close)

Tokyo - Nikkei 225: DOWN 1.7% at 32,307.86 (close)

Hong Kong - Hang Seng Index: DOWN 0.1% at 16,334.37 (close)

Shanghai - Composite: UP 0.1% at 2,969.56 (close)

Dollar/yen: UP at  ¥144.97 from  ¥144.13 on Thursday

Euro/dollar: DOWN at US$1.0767 from US$1.0794

Pound/dollar: DOWN at US$1.2550 from US$1.2594

Euro/pound: UP at 85.76 pence from 85.70 pence

West Texas Intermediate: UP 2.7% at US$71.23 per barrel 

Brent North Sea crude: UP 2.4% at US$75.84 per barrel – AFP, December 9, 2023.