07/08/2017 05:47 AST

The dollar surged by the most in six weeks and Treasuries fell after hiring data from last month came in stronger than forecast, underpinning the case for tighter monetary policy. The Dow Jones Industrial Average rose a ninth straight day to close at a record.

The greenback averted a fourth straight weekly slide after government figures showed employers added workers at a solid clip and wage growth picked up in July. The S&P 500 Index ended one point below an all-time high to cap a weekly gain, while the Dow’s winning streak is the longest since February, as the weak dollar boosts megacaps. The 10-year Treasury yield rose as the notes pared a weekly advance. Oil trimmed a weekly loss, while gold slumped.

Confidence

Broad-based hiring in July along with stronger household incomes and buoyant consumer confidence may give the Federal Reserve reason to raise interest rates later this year as it seeks to normalise monetary policy. The dollar’s bounce propelled it higher from the lowest since 2015 as investors sought faster growth in economies outside the US Markets meanwhile continued to shrug at mounting signs that President Donald Trump’s policy agenda has run aground, with assets from stocks to the dollar largely looking past reports Thursday that Special Counsel Robert Mueller’s probe into Russia’s meddling in the 2016 election has intensified.


Gulfnews

Ticker Price Volume
QNBK 123.29 21,021
SABIC 98.36 2,678,948
AICC 16.56 103,569
JARIR 143.98 13,484
CHEMANOL 6.99 1,858,123
PETRORABIGH 13.62 1,724,546
TAWUNIYA 97.04 165,611
US Dollar 1.00
Saudi Riyal 3.75
Derham Emirati 3.67
Qatari Riyal 3.75
Kuwaiti Dinar 0.30
Bahraini Dinar 0.38
Omani Riyal 0.39
Euro 0.84
British Pound 0.76
Japanese Yen 109.79
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