Wall Street set to extend its post-jobs revenues amid surging oil
On Monday, Wall Street stocks headed for another gain, following upbeat jobs data, while growing oil powered appetite for risky transactions such as stocks.
Dow Jones Industrial Average futures surged 44 points, trading at 17,715. Meanwhile, S&P 500 futures surged 5.05 points at 2,057.75, while Nasdaq-100 futures soared 12.50 points, trading at 4,341.
On Friday, stocks closed higher after a weaker-than-expected revenue in nonfarm payrolls spurred speculation that the Fed wouldn’t be in a hurry to increase its interest rates. Nevertheless, shares booked their second weekly drop in a row.
As for European shares, they mirrored revenues for American stock futures. For instance, the Stoxx Europe 600 index soared more than 1%.
Crude prices were giving some support for stock markets on a combination of factors. In general, oil managed to go up $1 or simply 2,3%, trading at $45.67 after China trade data unveiled its growing oil imports.