CMC Markets Weekly Report

The U.S market fell on Friday, as rising unrest in the Ukraine offset a better-than-expected April jobs report.

The U.S market fell on Friday, as rising unrest in the Ukraine offset a better-than-expected April jobs report.

The U.S. Labour Department reported the creation of 288,000 jobs in April from an upwardly revised 203,000 in March, with the jobless rate at 6.3 per cent. A poll by Reuters has expectations at an addition of 210,000 jobs during April and the jobless rate at 6.6 per cent.

The Dow Jones Industrial Average declined 45.98 points, or 0.3 per cent, to 16,512.890. The S&P500 finished down 2.54 points, or 0.1 per cent, to 1,881.14 and the Nasdaq lost 3.55 points, or nearly 0.1 per cent, to 4,123.90.

In commodity markets, oil prices were higher following on-going tensions in the Ukraine. New York's benchmark, West Texas Intermediate for delivery in June, climbed 34 cents to $US99.76 a barrel on Friday. In London, Brent North Sea crude for June added 83 cents to close at $108.59 a barrel.

Moscow's warning to Kiev over its attack on pro-Russia secessionists in Ukraine's east raised more worries over a Russian intervention. On Friday, Russia requested an emergency session of the United Nations Security Council over a Ukrainian army operation.

Gold closed at a three-week high with the most actively traded contract, for June delivery, on Friday rose $US19.50, or 1.5 per cent, to settle at $US1,302.90 a troy ounce on the Comex division of the New York Mercantile Exchange.

Copper futures closed higher on the London Metal Exchange (LME), boosted by a stronger-than-expected US jobs report. The LME's flagship three-month copper contract was up 1.1 per cent at $US6,719 a metric ton. The rest of the base-metals was mixed, with aluminium closing 0.1 per cent lower at $US1,787 a ton and nickel falling 0.1 per cent to $US18,250 a ton.

The Australian dollar has regained ground following losses on the back of stronger-than-expected US jobs figures. At 0700 AEST on Monday, the local currency was trading at 92.87 US cents, up from 92.71 cents on Friday.

Locally, in economic news on Monday, the Australian Bureau of Statistics (ABS) releases building approvals for March, while the ANZ job advertisements series for April is due out, as is TD Securities-Melbourne Institute inflation gauge, also for April and the Australian Industry Group Australian Performance of Services Index (PSI) for the same month.

In equities news, Westpac posts first half results and Leighton Holdings first quarter results.

In Australia, the market on Friday closed slightly higher as investors awaited the release of key US jobs figures.

The benchmark S&P/ASX200 index was up 9.3 points, or 0.17 per cent, at 5,458.1 points.

The broader All Ordinaries index was up 8.4 points, or 0.15 per cent, at 5,438.8 points.

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