FX.co ★ US stocks grow on strong employment data

Strong employment data renewed the vigor of investors, so all major corporations that are part of the S&P 500, with the exception of tech groups, posted huge gains on Thursday. This led to index to increase by 0.4% and hit a new record high.

One of the data released yesterday was about US manufacturing, which showed a continued increase, but at a slightly slower pace. A weekly report on jobless claims was also published, but it showed much better results since the figure fell more than the forecast last week. The report preceded the monthly payroll report due out today.

UBS Global CIO Mark Haefele said this scenario points to a further capital appreciation, but warned that investors should be prepared in case of bouts of volatility, especially since inflation is soaring and COVID-19 continues to spread all over the world.

Other key events to watch out this week are:

- speech of ECB President Christine Lagarde (Friday);

- report on US employment (Friday)