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Weekly Market Outlook
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The Dow Jones index was up 29.9 points on Friday, or 0.3%, with the S&P 500 up 0.3% and the Nasdaq higher by 15pts or 0.6%. Over the week, the Dow Jones rose by 2.3% with the S&P up 2.7% and Nasdaq lifted by 3.1%.
On the currency front, the Australia Dollar continues to hold above parity, trading at $US1.0133, while in commodities, Gold is holding steady at $US1,344.50 an ounce and Oil is fetching $US89.03 per barrel.
US non-farm payrolls report was well short of expectations, rising by just 36,000 in January. The weakness was attributed to harsh snow storms in the month. The jobless rate plunged from 9.4% to 9%. Hourly earnings jumped by 0.4%.
This week in the US, the Treasury will auction US$72 billion of three and ten-year notes and thirty year bonds.
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