Shares on Wall Street are shrinking as investors wait for U.S. job data

Wall Street stock markets rose but were recorded ahead of U.S. job data on Friday, and could put pressure on the Federal Reserve to rethink its ultra-solidarity policies.

The S&P 500 rose 0.3 percent at New York’s lunchtime. However, it remains below the level reached at the end of last month after a long rally supported by the Fed and other central banks. releases trillions of dollars to financial markets in emergency pandemic spending programs.

The Nasdaq Composite index for technology accumulated with growth firms that are sensitive to changes in interest rate expectations fell 0.1 percent and delayed larger losses earlier in the day. The European Stoxx closed 0.2 percent at 0.2 percent, but was also below the record set in mid-April.

With the US economy now close In recovering from the losses caused by the shutdown of the coronavirus, economists expect the U.S. government to announce on Friday that the nation’s employers have created a million jobs in April. Investors will examine non-farm payroll report to find information on possible next moves by Fed he said it will continue to buy $ 120 billion a month in bonds until the labor market recovers.

Up to 1.5 million jobs “wouldn’t be enough to change the Fed,” analysts at Standard Chartered said. “Between 1.5m and 2m, there is likely to be uncertainty in Fed’s perceptions.”

Monica Defend, Amundi’s head of research, said the US and European stock markets are trading “on record”. The current narrative of a rapidly improving market for economic recovery and corporate profits, driven by supportive monetary policies, has “become too pleasant,” he said.

The 10-year Treasury yield fell 0.03 percentage points to 1.56 percent on Thursday, “not in line with the U.S. economy, which is recovering at this rate,” he added.

Amundi, Europe’s largest fund manager, now “took profits in equity participation in developed markets.”

Central banks around the world have faced a major “communication challenge” over the final withdrawal of emergency funding measures, said Roger Lee, head of Investec’s UK equity strategy.

“If ordered, you can expect a smooth follow-up to this year’s stock market rotation” for blockchain beneficiaries such as technology stocks such as oil producers and banks to be economically sensitive to businesses. “If it’s messy,” what you can sell will be the case. ”

Bank of England on Thursday renew Growth forecasts for the UK economy however came to a halt Canada to reduce asset purchases.

The BoE maintained the size of its quantitative easing program at 895 billion euros, keeping the key interest rate at a record 0.1 percent. The British central bank added that asset purchases could “slow down somewhat now” the main buyer Last year of the UK government’s debt, “this operational decision should not be interpreted as a change in the stance of monetary policy”.

The pound fell 0.1 percent against the dollar to $ 1.389.

The dollar, measured with a basket of trading partners ’currency, weakened 0.4 percent. The euro gained 0.4 percent to $ 1.205.

Gross Brent fell 0.7 percent to $ 68.46 a barrel.