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Morning Research Notes - 10.03.25
US markets closed in the green on Friday, despite a week marked by a soft employment report and ongoing trade uncertainty, with major indices ending the week in the red. Major commodities experienced a bullish day on Thursday: Gold remained unchanged at $US2,911.65 an ounce, Brent oil rose by 0.2% to $US69.43 a barrel, and Iron ore increased by 0.7% to close at $US100.45 a tonne.
Wall Street closed higher on Friday, with the S&P 500 rising 0.5%, the Nasdaq adding 0.7%, and the Dow Jones Industrial Average gaining 222 points (0.5%). Despite these gains, major indices ended the week in the red as investors grappled with soft employment data and global trade uncertainty. The U.S. economy added fewer jobs than expected in February, with nonfarm payrolls increasing by 151,000, below the anticipated 159,000, with the unemployment rate ticking up to 4.1%. On Friday, Federal Reserve Chairman Jerome Powell suggested the central bank may continue to take a patient approach on interest rates, indicating no hurry to adjust monetary policy given economic uncertainties.
On Friday, the Australian stock market closed lower, with the ASX 200 falling by 1.84%. Major sectors, including Materials, Financials, Information Technology, Health Care, and Utilities, all ended the day in the red. The commodities sector experienced mixed results, with Aluminium (-0.59%) and Zinc (-1.30%) closing down, while Copper (0.10%) and Nickel (0.38%) closed in the green.
Chart of the day
The U.S. economy may be impacted by a reduction in illegal migration. The Trump administration’s expected deportation of millions of unauthorised migrants over the next four years is likely to impact employment in the construction, hospitality and agriculture sectors. Ultimately, this may lead to a rise in inflation, given the expense of American workers relative to that of illegal aliens.
Source: CBRE
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