Stock exchange trading on the Damrak on Friday is mainly dominated by the official jobs report from the American government, which will be released later in the day. Earlier this week, figures from payslip processor ADP showed that the number of jobs in the American corporate sector increased sharply in September.
Employment in the world’s largest economy is of interest to investors because it plays an essential role in the Federal Reserve’s interest rate policy. Therefore, a better-than-expected jobs report increases the chance that the central bank will reduce its support programs for the economy more quickly.
Stocks have had a tumultuous week of trading due to the dispute over the debt ceiling in Washington and fears that record gas prices in Europe will further fuel inflation. However, the US Senate has now approved an increase in the debt ceiling until December. This prevents the American government from running out of money and the United States from being unable to meet its financial obligations.
Based on the opening indicators, the AEX index on Beursplein 5 is heading for a slightly lower start after the strong recovery the day before. Elsewhere in Europe, the markets also seem to be opening with small price movements. On the other hand, stock markets in Asia showed mostly gains on Friday. In Tokyo, the recovery continued, and the Nikkei entered the weekend with a gain of 1.3 percent.
In Shanghai, where investors returned after a week of vacation, the stock exchange traded 0.5 percent in the plus. Figures from market researchers Caixin and Markit showed that China’s services sector grew again in September, following the sector’s biggest contraction since the corona pandemic in August. Furthermore, they were still waiting for news about the financially distressed Chinese real estate group Evergrande.
On the Damrak, Just Eat Takeaway announced the departure of Matt Maloney, the founder of the American meal delivery company Grubhub. Maloney joined the board of the owner of Thuisbezorgd.nl in June this year after completing the Grubhub acquisition. Maloney will leave on December 1 to pursue other opportunities.
The euro was worth $1.1541, against $1.1565 a day earlier. The price of a barrel of US oil rose 1.5 percent to $79.48. Brent oil cost 1.3 percent more at $83.05 a barrel.