Trump jitters dominated markets over the last week, sending them higher, and lower and then higher.
Plans to relax bank regulations and benign US jobs data for January saw US and Eurozone shares bounce back at the end of the week.
Eurozone shares rose 0.5% on Friday and the US S&P 500 added 0.7% as financial shares jumped after President Trump announced plans to roll back the Dodd Frank financial regulations.
The higher than expected jobs numbers of 227,000 for January partially offset by a 40,000 fall in the November figure indicates to some analysts that the US Fed can gradually raise interest rates this year.
US economists now expect only two rate rises this year from the Fed, not the three the central bank signalled in December.
US wage costs eased and the unemployment rate rose to 4.8% from 4.7% as more people looked for jobs.
Reflecting the positive global lead ASX 200 futures rose 24 points by Saturday morning’s close, pointing to roughly a 20-25 point rebound in the ASX this morning.
US shares rise 0.1% for the week overall, but Eurozone shares dipped 0.8%, Japanese shares lost 2.8% and Australian shares were down 1.6%. And shares lost 0.7% on the back of central bank monetary policy tightening, and a hangover from the Lunar New Year holidays.
The Dow rose 186.55 points, or 0.94%, to close at 20,071.46, the S&P 500 added16.57 points, or 0.73% to end the week on 2,297.42 and the Nasdaq added 30.57 points, or 0.54%, to 5,666.77.
Without Friday’s gains, the US markets would have seen falls for the week.
Friday’s gains helped the indexes recover most, if not all, of the losses from earlier in the week. The S&P and Nasdaq each gained 0.1% while the Dow lost 0.1%.
US Bond yields were mixed but the $US fell.
The weakness in the greenback and record trade surplus for December saw the $A rise and end closer to 77 US cents than it has been for more than six months (76.80 US cents).
The ASX 200 index saw the largest single-week fall since November, with broad losses across every sector except utilities leading the market to finish at 5621.6 on Friday, down 1.6% on last weeks’ close.
The broader All Ordinaries was down by a similar proportion over the five trading days.
On Friday, the ASX 200 reversed early gains to finish down 0.4%.
