US stock markets start with gains after labor market report

On Friday, investors put aside the recent concerns about interest rates and inflation. Instead, some US indices are near records.

The US labor market report for September ensures a good mood on the markets. The major US indices start Friday trading with a plus.

The Dow Jones of standard values ​​opens 0.7 percent up at 51,263 points.

The broadly diversified S&P 500 opens around one percent up at 7,738 points.

The Nasdaq technology exchange starts 1.4 percent up at 27,265 points. This brings the index closer to its record of 27,288.79 points.

The Nasdaq 100, a reflection of the 100 non-financial companies with the highest market capitalization, rose 1.5 percent to 30,935.08 points, setting a record.

Investors are likely to look particularly at the latest employment figures. Outside agriculture, only 29,000 new jobs were created in September, the US government announced on Friday. Economists surveyed by Reuters had expected an increase of 90,000 jobs. At the same time, the unemployment rate climbed to 4.2 percent. In August, the labor market was still unexpectedly robust. However, employment growth in the previous two months was revised downwards by a total of 60,000 jobs.

“Today’s data argues for patience, not panic,” Seema Shah, chief strategist at Principal Asset Management, told CNBC. The strategist means patience with regard to US interest rate policy.

Less speculation about interest rate increases

Disappointing labor market data is dampening speculation on the financial markets that the US Federal Reserve (Fed) will raise interest rates further. The central bank has a dual mandate, which obliges it to maintain full employment and stable prices.