Markets

Weekly Fundamentals - Commodities Fell Despite Encouraging Job Data

Profit-taking was seen on Friday after stronger-than-expected US non-farm payrolls. While improved job market data might signal better economic outlook in the world's largest economy, investors remained cautious about the aftermath of Hurricane Sandy and decided to take profit after rallies earlier in the day. In the commodity sector, crude oil prices slumped amid concerns that refinery shut down due to the hurricane would increase supply. It's expected that oil inventory would show a huge build in the report next week. Gold also plummeted after the employment report as improved job market might lower the urgency of further Fed easing.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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