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US stocks reverses losses and close the session and the week with gains

FXStreet (Córdoba) - US stocks staged a noticeable comeback on Friday and reversed early losses as they shrugged of a weaker than expected nonfarm payrolls report.

The Dow Jones Industrial Average rose 200.36 points, or 1.23%, to 16,472.37 and ended the week up 1%. The S&P 500 gained 27.53 points, or 1.43%, and closed at 1,951.35 also 1% higher for the week. The Nasdaq Composite climbed 80.69 points, or 1.74%, to 4,707.78 and finished with a 0.5% weekly gain.

Stocks had opened lower following a disappointing US jobs report. Data showed, US economy created just 142,000 jobs in September, far below the 203,000 expected. Meanwhile August and July gains were downwardly revised by a combined 59,000. The unemployment rate stood at 5.1% as expected.

EUR/USD to continue to fall as Fed and ECB drift apart in monetary policy - Commerzbank

FX markets are currently reacting more strongly to the comments of central banks than to data publications, and according to Antje Praefcke, analyst at Commerzbank, this does not change the fact that the Fed and the ECB are drifting apart in monetary policy and EUR/USD will therefore fall.
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