Morning (AM) Market Report

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Published on Monday, 05 September 2016 00:00

U.S. stocks finished higher on Friday after investors viewed a weaker-than-expected payroll as diminishing the likelihood of an interest rate increase by the Federal Reserve.

Monday, 5th September, 2016

According to press reports, the US labour market added just 151,000 payrolls during August, missing expectations for 180,000 payrolls.

At the closing bell, the Dow Jones, the S&P 500 and the NASDAQ were all up around 0.4%.

Broadcom (AVGO) reported fiscal third-quarter results and provided investors with a fourth-quarter outlook that were relatively in line with expectations, as the firm appears well positioned to benefit from increased wireless chip content within Apple's the thesis of an industry reaching a plateau or entering a slow decline. Ford's (F) overall August sales fell by 8.4% while retail channel sales also fell by 8%. General Motors' (GM) overall August sales declined by 5.2% year over year, while retail channel sales fell 5.4%.

For Australian ADRs listed on the NYSE, BHP Billiton rose 39 cents (1.29%) to $30.62, ResMed lost 6 cents (-0.09%) to $67.06, Telstra Corporation fell 26 cents (-1.32%) to $19.44 and Westpac declined 2 cents (-0.09%) to $22.27. At 8:00 am (AEST), the 10-year Treasury note yield was 1.60% and the 5-year yield was 1.19%.

European markets closed higher on Friday. The FTSE 100 was up 2.2%, the French CAC 40 rose 2.3%, while Germany's DAX lifted 1.4%. Asian markets finished mostly higher. The Hang Seng was up 0.5%, the Nikkei 225 remained unchanged, while Shanghai Composite rose 0.1%. India's Sensex lifted 0.4%.

Ahead of the local open, SPI futures were 35 points higher at 5,383.