Markets Mixed Ahead of US Jobs Data | February 3, 2012.

Asian Markets are pointed to a flat start after U.S. Stocks ended narrowly mixed in a lacklustre session following a handful of mixed earnings reports, decline in weekly jobless claims and ahead of the government's monthly employment report due Friday morning.

The S&P500 rose 1.45 points, or 0.11%, to close at 1325.54. The Dow Jones Industrial Average finished 11.05 points lower, or 0.09%, at 12705.41, while the Nasdaq gained 11.41 points or 0.4%.

A report tomorrow may show employers boosted payrolls in January by 140,000 workers and the jobless rate held at an almost three-year low of 8.5%, according to median estimates in a Bloomberg survey. Data today showed that claims for U.S. jobless benefits fell last week and productivity cooled in the fourth quarter, signalling hiring may accelerate as companies reach the limits of how much efficiency they can wring from existing work forces.

The GBP rose to a one week high against the euro as speculation the European leaders were struggling to find a solution to the regions debt crisis. EURGBP traded as low as 0.8276 before settling at 0.8315.

Oil declined to a six-week low in New York as U.S. supplies climbed and fuel demand tumbled. Brent crude in London traded at the biggest premium to the American benchmark grade in 12 weeks.

Crude oil for March delivery declined $1.25, or 1.3%, to $96.36 a barrel.

Gold rose to a two month high after the Federal Reserve Chairman Ben Bernanke said that he sees signs of the US economy recovering, boosting prospects for commodity demand. Spot Gold traded up from lows of 1742 to recent highs of 1762.

Source
Bloomberg, Dow Jones News