· Stocks rallied on Friday after two positive pieces of news for the market.
At 8:30 a.m., the Labor Department said the U.S. economy added 312,000 jobs in December. That blew past an expectation of176,000 jobs. Later on Friday morning, Federal Reserve Chairman Jerome Powell said the central bank will be patient in raising rates, quelling fears of tighter monetary policy in the near future.
The Dow Jones Industrial Average closed 746.94 points higher at 23,433.16, or 3.3 percent, and briefly rose more than 800 points. The S&P 500 rallied 3.4 percent to 2,531.94, with the tech sector gaining more than 4 percent. The Nasdaq Composite climbed 4.26percent to 6,738.86. This was a rebound from Thursday's plunge, which was triggered by a massive drop in Apple's stock.
· European shares extended their gains in Friday trading, following stronger-than-expected nonfarm payrolls data out of the U.S. which rode off the back of news that China and the U.S. will have further trade talks next week.
The pan-European Stoxx 600 index rallied 2.8 percent provisionally, with all sectors and major bourses in positive territory. The German Dax ended up by 3.3 percent. Britain's FTSE 100 ended Friday higher by 2.2 percent.
Basic resources stocks — with their heavy exposure to China — were the top gainers in Europe after China's commerce ministry said the U.S. and China would hold vice-ministerial level negotiations over trade in Beijing on Jan. 7-8. Auto stocks were also among the top gainers. This is a sector highly sensitive to trade dynamics.
· Asian shares got off to a rousing start on Monday as a dovish turn by the Federal Reserve and startlingly strong U.S. jobs data soothed some of the market’s worst fears about the global outlook.
Investors are keen to see how Chinese markets react to the central bank’s policy easing announced late on Friday, which frees up around $116 billion for new lending.
Chinese officials also meet their U.S. counterparts for trade negotiations starting later Monday, the first face-to-face talks of the year.
U.S. President Donald Trump said on Sunday that the talks were going very well and that weakness in the Chinese economy gave Beijing a reason to work toward a deal.
MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS rose 0.7 percent in early trade, led by a 1.5 percent jump in Australia .
Japan's Nikkei .N225 shot up 3.1 percent, helped in part by a pullback in the yen, while South Korea .KS11 added 1.5 percent. E-Mini futures for the S&P 500 ESc1 climbed another 0.5 percent.
Reference: CNBC
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