FKLI Related News
The U.S. stock market grinded higher for most of Friday's trading session, sending the major averages out in positive territory. The stock market has jumped to begin 2013 as investors have been purchasing risk assets in the wake of the deal to avert the fiscal cliff.
The Dow Jones Industrial Average climbed around 44 points to close at 13,485. The S&P 500 was up by around 7 points, or 0.49 percent, and finished the session at 1,466.
The Nasdaq was the laggard on the day and only gained 0.04 percent to just below 3,102.
The December jobs numbers came in better than expected which helped trigger risk appetite on Wall Street. The Nonfarm payrolls number was 155,000 versus a consensus estimate of 150,000. The unemployment rate did not show the drop that economists had been expecting, coming in at 7.8 percent versus estimates of 7.7 percent. Hourly earnings rose by 0.3 percent, one basis point above expectations. The average work week was 34.5 hours compared to 34.4 in November. The November factory orders data was flat compared to economists expectations of a rise of 0.5 percent. In the prior month period, factory orders showed a gain of 0.8 percent.
The U.S. dollar was largely unchanged versus a basket of foreign currencies on Friday. The closely watched EUR/USD was slightly lower on the day and was trading down 0.24 percent to $1.3185 at last check. U.S. crude oil was slightly higher on the session. NYMEX crude futures, the U.S. benchmark, added roughly 0.14 percent to $93.05 while Brent crude contracts fell 0.71 percent to $111.34. Natural gas contracts snapped a losing streak and gained around 2.60 percent to $3.28. Both gold and silver were lower on the day. COMEX gold futures notched losses of more than 1 percent to $1,657.50. Silver futures shed around 1.60 percent and were last trading at $30.23. [Investopedia]
The Dow Jones Industrial Average climbed around 44 points to close at 13,485. The S&P 500 was up by around 7 points, or 0.49 percent, and finished the session at 1,466.
The Nasdaq was the laggard on the day and only gained 0.04 percent to just below 3,102.
The December jobs numbers came in better than expected which helped trigger risk appetite on Wall Street. The Nonfarm payrolls number was 155,000 versus a consensus estimate of 150,000. The unemployment rate did not show the drop that economists had been expecting, coming in at 7.8 percent versus estimates of 7.7 percent. Hourly earnings rose by 0.3 percent, one basis point above expectations. The average work week was 34.5 hours compared to 34.4 in November. The November factory orders data was flat compared to economists expectations of a rise of 0.5 percent. In the prior month period, factory orders showed a gain of 0.8 percent.
The U.S. dollar was largely unchanged versus a basket of foreign currencies on Friday. The closely watched EUR/USD was slightly lower on the day and was trading down 0.24 percent to $1.3185 at last check. U.S. crude oil was slightly higher on the session. NYMEX crude futures, the U.S. benchmark, added roughly 0.14 percent to $93.05 while Brent crude contracts fell 0.71 percent to $111.34. Natural gas contracts snapped a losing streak and gained around 2.60 percent to $3.28. Both gold and silver were lower on the day. COMEX gold futures notched losses of more than 1 percent to $1,657.50. Silver futures shed around 1.60 percent and were last trading at $30.23. [Investopedia]
FKLI spot month opened slightly lower this morning at 1,696 but soon reached a new high of 1,705, taking cue from gains in U.S stocks. Today’s Support and Resistance for January contract is located around 1,695 and 1,705 respectively.
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