Australian Stock Market Report outlook - Morning 2/7/2011

Australian Stock Market Report outlook - Morning 2/7/2011 : US non-farm payrolls (employment) rose by just 36,000 in January. While the report was well short of expectations of job gains near 148,000, weakness was attributed to harsh snow storms in the month. But the jobless rate plunged from 9.4pct to 9.0pct - the lowest level since April 2009. Hourly earnings jumped by 0.4pct.

European shares rose slightly on Friday as investors debated a mixed US payrolls report. Construction and utility stocks were most in demand. The FTSEurofirst index rose by 0.1pct, with the UK FTSE up 0.2pct and German Dax higher by 0.3pct.

US sharemarkets rose on Friday as investors shrugged off tepid jobs growth, preferring to focus on positive forward indicators released earlier in the week. At the close of trade, the Dow Jones index was up 29.9pts or 0.3pct with the S&P 500 up 0.3pct and the Nasdaq was higher by 15pts or 0.6pct. Over the week the Dow Jones rose by 2.3pct with the S&P up 2.7pct and Nasdaq lifted by 3.1pct. Read More... For the latest updates PRESS CTR + D or visit Stock Market news Today

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