Major US stock indexes opened higher on Thursday ahead of key US jobs data following their finishing on record high on Wednesday. Nasdaq, S&P500 and Dow Jones opened at 19735.12, 6086.49 and 45014.04 respectively on Thursday.
Jobless claims show extremely low layoffs amid sturdy US economy after new claims rose by 9k to 224k in the week ending 30 November, from 215k in the prior week. US trade deficit narrows sharply in October on dissipation of worries about port strike. Trade deficit narrowed 11.9% in October to $73.8 billion, beating market predictions of a seasonally adjusted $74.8 billion.
Europe
European stocks gained for a sixth straight session in the longest winning streak since May, as investors weighed the latest developments in turbulent French politics. FTSE100, DAX, CACC40 and Stoxx 600 were trading at 8333.20, 20354.32, 7321.80 and 518.71 respectively towards market close on Thursday.
On politics, Prime Minister Michel Barnier’s government was ousted in a no-confidence vote after he pushed on to use his constitutional powers include EUR60bn in tax increases.
South Africa
Stock indexes on the JSE were mostly higher on Thursday, shrugging off a surprise GDP growth contraction in the third quarter after a sharp decline in agricultural output. Resources, financials and allshare indexes ended at 2705.62, 54292.04 and 86746.56 respectively on Thursday.
GDP fell by 0.3% q/q in 3Q24 from 0.4 rise in 2Q24, below market forecast of 0.5% an thus likely to miss a 1.1% growth prediction for the entire 2024. However, the shocker GDP drop is seen as a once-off as the outlook is brighter and growth is seen the regions of 2% in 2025 due to on going reforms and a more reliable electricity supply.
