Asian Markets are set for a weak opening after Stocks closed mixed Friday, as even a strong government employment report was not enough to offset ongoing worries over the euro zone debt crisis.
The Dow Jones Industrial Average finished 55.78 points lower, or 0.45%, at 12359.90 with the materials sector leading the gains. The S&P500 fell 3.25 points, or 0.25%, to 1277.81, while the Nasdaq rose 4.36 points or 0.16%.
Non-farm payrolls jumped 200,000 in December, according to the Labor Department, pushing the jobless rate to a near three-year low of 8.5%. Economists polled by Reuters expected a gain of 150,000. Futures soared immediately following the report, but the rally soon fizzled as some sceptical traders attributed the robust gain to a temporary seasonal effect.
The euro fell to an 11-year low against the yen and the weakest level in 15 months versus the dollar on concern Europe’s debt crisis is worsening and as reports showed the U.S. labor market is strengthening. It dropped 1.2% to $1.2788, tumbling below $1.28 for the first time since Sept. 13, 2010, and touching $1.2777.
Oil slipped for a second day as speculation Europe is headed for a recession overshadowed concern that tensions with Iran may lead to a disruption in Middle East shipments. Crude oil for February delivery fell 25 cents to $101.56 a barrel on the New York Mercantile Exchange.
Gold eased on Friday, snapping a five-session winning streak, but trade was choppy as investors digested a report of better U.S. job growth and the unemployment rate near a three-year low. U.S. gold for February delivery settled down $3.30 at $1,616.80.
INDICES
Last Traded
SPI 200 future 4092
S&P500 Index 1277.81
Dow Jones 12359.90
FTSE 100 Index 5649.68
COMMODITIES
Last Traded
Gold 1616.80
Oil (Nymex) 101.56
CURRENCIES
Last Traded
AUDUSD 1.0211
EURUSD 1.2698
GBPUSD 1.5422
USDJPY 76.91
Source
Bloomberg, Dow Jones News