Strong Job Gains Could Trigger Positive Reaction
The major U.S. index futures are pointing to a higher opening on Friday, with sentiment reflecting relief that the U.S. non-farm payroll numbers came in stronger than expected. Notwithstanding widespread fears that the inclement weather may have hurt the numbers, the economy added jobs at a brisk pace, with the numbers allaying fears lurking in the minds of traders concerning the domestic economy’s recovery. The unemployment rate unexpectedly ticked up due to an increase in the size of the labor force. However, given the recent run up of the markets, substantial run up from current levels is unlikely.