Did it become it? The stock price has surged more than twice, making it the most valuable company in Europe
On Friday local time, after the US Department of Labor released multiple data such as non farm payroll and unemployment rates for August, the pressure on the Federal Reserve to further raise interest rates in September was eased. The three major stock indexes in the United States collectively opened high on Friday, but within half an hour of opening, they all fell and emerged from a volatile market. As of the close, the three major US stock indexes have fluctuated, with only the Nasdaq closing slightly lower. Throughout the week, all three major US stock indexes recorded gains, with the Dow Jones up 1.43%, the S&P 500 up 2.5%, and the Nasdaq up 3.25%. In terms of sectors, six out of the eleven major sectors in the S&P 500 index rose and five fell, with energy and materials sectors leading the way this week.
Unexpectedly higher non farm payroll in August than expected unemployment rate in the United States
According to data released by the US Department of Labor on Friday, the number of new non-farm jobs added in August was 187000, higher than the expected 170000. However, the Department of Labor has significantly lowered the number of new non farm payroll jobs in the United States in the past few months. In July, the number of new non farm payroll jobs in the United States decreased from 187000 to 157000, and in June, the number of new non farm payroll jobs decreased from 185000 to 80000. In addition, the US unemployment rate unexpectedly increased by 0.3 percentage points month on month in August, reaching 3.8%, a new high in a year and a half. Analysis suggests that the Federal Reserve is closely monitoring the labor market, and overall, the US labor market showed a cooling trend in August, which increases the probability of the Federal Reserve maintaining interest rates unchanged at its September meeting. After the release of a series of new data, the "Federal Reserve Observation Tool" of the Chicago Mercantile Exchange showed that the probability of the market betting on the Federal Reserve not raising interest rates in September increased from 89% to 93%.
On September 1st, the three major European stock indices fluctuated in price
On Friday local time, the three major European stock indices fluctuated. As of the close, the FTSE 100 index in the UK rose 0.34%, the CAC40 index in France fell 0.27%, and the DAX index in Germany fell 0.67%.
The market value of Danish pharmaceutical company Novo Nordisk once exceeded that of French LVMH Group
On Friday, the market value of Danish pharmaceutical company Novo Nordisk surpassed that of French luxury goods manufacturer Louis Vuitton Group, becoming the highest valued company in Europe. Louis Vuitton Group has maintained the highest market value ranking of European listed companies for the past two and a half years. Over the past three years, Novo Nordisk has gained market attention with products such as Smegglutide. Since the end of 2020, the stock price of Novo Nordisk has more than doubled, and has risen by 66% in the past 12 months.
International oil prices rose significantly on September 1st, and US oil rose by over 7% this week
In terms of the crude oil market, international oil prices rose this Friday, with the price of light crude oil futures for October delivery on the New York Mercantile Exchange rising by 2.30%, marking the seventh consecutive day of gains and the highest closing price since November 2022. The price of London Brent crude oil futures for November delivery increased by 1.98%. From a weekly perspective, the futures prices of the main contracts for US oil increased by 7.16%, while the futures prices of the main contracts for oil distribution increased by 4.82%. Analysis shows that Saudi Arabia, the main oil producing country, has reduced its daily crude oil production by 1 million barrels in August and is expected to continue the production reduction measures until the fourth quarter of this year, which has raised concerns among investors about future supply shortages in the global crude oil market.