Europe closed lower on Friday, with the Stoxx 600 index up 0.44% by the close. This came after a weaker rise in U.S. payrolls than expected, causing the index to be down by 0.94% for the week. The U.S. stock market, on the other hand, opened higher following the weak jobs report for April. The Dow Jones Industrial Average gained 578 points, the S&P 500 surged 1.2%, and the Nasdaq Composite rallied 1.8%.
In other news, the U.S. economy added fewer jobs than expected in April, with the nonfarm payrolls report showing 175,000 jobs added, below the 240,000 expected by economists. The unemployment rate also ticked up to 3.9%. Meanwhile, Novo Nordisk shares extended losses following its first-quarter results, with the stock sliding 4.3% through Friday morning.
Looking ahead, the Japanese yen recovered 4.5% against the U.S. dollar, set for its best week in over a year. European stocks are also expected to open higher, with the U.K.’s FTSE 100, Germany’s DAX, and France’s CAC 40 all showing gains. Additionally, CNBC Pro highlighted global stocks that are expected to soar on an electrification boom and named companies with the highest sustainable dividends.
Overall, the financial markets are experiencing fluctuations and uncertainties, with various factors influencing the performance of different assets. Investors are advised to stay informed and cautious in their decision-making.
