U.S. market closed in spectacular boom after witnessing decline in the last 5 consecutive trading sessions. Market get excited after the the release of US job data, which was quite better than the market expectations. However the US markets managed to close on the upside by turning up by 1.25% from it's previous close. Market is expecting a raise in the U.S. stimulus package. According to the Job data released yesterday the employment may gain some momentum in near term in the US. 2,03,000 people are employed in the month of November while market speculation figure was around 1,85,000. With this unemployment rate of the US dropped by 7%.
Now the market has turned the eyes on the Federal Reserve meeting which will take place on the 17th and 18th December. Federal Reserve has already indicated that any cut down in the unemployment will lead to cut in the Q3 before the scheduled time.
Market Closing Updates:
- Dow Jones gained 200 points to close at 16020.20.
- S & P 500 index with a gain of 1.12 percent closed at 1805.9.
- Nasdaq closed at 4062.52 with a gain of 0.73 percent.
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