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Stocks Shake Off NFP Survey, Sees Fed on Track

  • The e-mini S&P underwent the usual bout of post-NFP volatility on Friday, with the lower-than-expected headline putting prices back toward the day's lows of 4382.25. This swiftly reversed into the close as markets resumed their pre-data trends.
  • Across the S&P 500, a sharp rally in energy names helped support the index just into the green ahead of the close despite a lacklustre performance from the majority of other sectors. Buoyant oil prices helped support explorers and refiners, with WTI crude futures inching back above $80/bbl for the first time since late 2014.
  • European markets finished the session mixed, with most core indices holding the trends seen throughout the Friday session. UK and Italian indices closed in minor positive territory, while core EuroStoxx50 and French CAC-40 indices finished in the red.
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