As the week draws to a close, the US labor market report for May takes center stage. Economists polled by Reuters expect a job gain of around 85,000, following an increase of 115,000 in April. These data are closely monitored by the US Federal Reserve, which is mandated to promote full employment and ensure price stability. Nevertheless, financial market experts do not anticipate a rate move by the central bank for the time being.
The war in Ukraine is also returning to the spotlight. Russian President Vladimir Putin is scheduled to speak at the St. Petersburg International Economic Forum. The annual meeting is often referred to as the 'Russian Davos', where global economic issues and investments are discussed. The Moscow government also uses it as a platform for its geopolitical positioning.
Also on Friday, the US government is auctioning oil and gas drilling rights in the Arctic National Wildlife Refuge in Alaska. This is the first of four auctions made possible by legislation signed last year by US President Donald Trump. The development of the region is highly controversial due to its impact on the ecosystem.
Closing prices of European Level
Stock Indices and
Futures on Thursday
Dax 24,944.95
EuroStoxx50 6,103.33
EuroStoxx50 Future 6,094.00
----------
Closing prices of Level Change in
US Indices on Thursday Percent
Dow Jones 51,561.93 +1.7%
Nasdaq
S&P 500 7,584.31 +0.4%
----------
Asian Indices on Prices at 07:00 Change in
Friday CET Percent
Nikkei
Shanghai 4,075.31 +0.4%
Hang Seng 25,047.83 -0.8%
(Report by Sanne Schimanski, edited by Myria Mildenberger. For inquiries, please contact our editorial office at berlin.newsroom@thomsonreuters.com (for politics and economics) or frankfurt.newsroom@thomsonreuters.com (for companies and markets).)
