The main US equity benchmarks are now being called to rise by over 1% at the open. That following the release of what at first glance looks to be a far better than expected reading on the US labour market.

Nonetheless, it must be had in account that the S&P 500 will thus begin the day almost at technical resistance, at 1,340 points.

Strikingly, manufacturing sector employment rose by 50,000, while the unemployment fell to 8.3% from 8.5% the month before (due in part to technical factors).

National Oilwell will pay $670m for NKT.

The latest quarterly results from the likes of Beam, Tyson and Aon have come in better than forecast.

MACROECONOMY

Non-farm payrolls rose by 243,000 in December (Consensus: 160,000), with the unemployment rate falling to 8.3%.

OTHER MAKETS

Front month West Texas crude futures are now rising by 0.72% to the $97.07/barrel in NYMEX trading.

10 year US Treasuries are now falling by 24/32 dollars, with yields at 1.90%.

AB

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