Spreadex Market Update
US unemployment falls and stock futures open higher
US stock futures are indicating a higher open, following a positive European session as investors assess a mix of data on housing and employment. With markets advancing for a third day, optimism has begun to filter into the markets that the world’s largest economy will be able to cope with higher interest rates from next year.
Unemployment claims in the US declined to a two-month low of 280,000, beating the 312,000 estimate. Stronger household and corporate demand fueled order growth allowing companies to retain workers. Britain’s top share index remained in the spotlight as investors focused on the Scotland’s independence vote, with results scheduled to be announced later tonight. Sterling was trading 80 points to 1.6376 against the dollar.
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