The stock exchanges in New York opened with gains on Friday. Investors on Wall Street feel buoyed by new data on the US labour market, which is much stronger than expected.
That seems like a signal that the US economy is recovering.
Last month, 379,000 jobs were added in the United States. The increase in jobs was mainly due to growth in the hospitality and leisure industries, where companies in some parts of the country were re-hiring thanks to easing lockdowns. Job growth has thus accelerated because a month earlier, 166,000 jobs were added.
The Dow Jones index supported by the jobs figure was 0.6 percent higher at 31,115 points shortly after the opening bell. The broadly curated S&P 500 won 0.5 percent to 3,787 points. Tech funds also improved somewhat after Thursday’s heavy losses. Tech exchange Nasdaq was up 0.1 percent in early trading at 12,737 points.
Furthermore, the oil price was clearly on the rise. The price of a barrel of US oil rose above $ 65 on Friday, for the first time since January 2020.
The oil price is supported by the decision of oil cartel OPEC and allies to limit oil production again in April. On the contrary, a relaxation of production restrictions had been expected.