Wall Street showed a premium on Friday

After the subdued start to the new quarter, Wall Street showed a premium on Friday. The S&P 500 and the Nasdaq indices posted further record highs. The Dow Jones index rose 0.4 percent to 34,786 points, the S&P 500 and Nasdaq Composite rose 0.8 percent each. A real end to the lethargic and listless summer trade was initially not in sight - even if the US labor market report was received cautiously positive. "The overall improvement in the labor market allows the market to continue in its current phase of slow and gradual growth, which is the best scenario," said Randy Frederick, vice president of trade and derivatives at Charles Schwab. 850,000 new jobs were created outside of agriculture, economists had only expected 700,000. "These are strong numbers, but not so strong that they could trigger fears of inflation and interest rate hikes," said market analyst Fawad Razaqzada of broker ThinkMarkets. The stock marketers were astonished that the separately determined unemployment rate rose by a tad to 5.9 percent. "With similar strong job growth rates, we saw significant declines in the unemployment rate last autumn," summarized portfolio manager Thomas Altmann from asset manager QC Partners. That will make it difficult for the Fed to think about tightening monetary policy immediately. The long weekend also spoke against an overly positive market reaction, because the American Independence Day holiday will be made up for on Monday with closed stock exchanges. The risk appetite should therefore not have been too pronounced, it said. The other economic data published on Friday - the trade deficit and incoming orders from May - were in line with expectations. The dollar's weakness and the prospect of monetary policy remaining loose in the short term supported the gold price. Oil prices were inconsistent. While the US variety WTI was quoted hardly changed in late trading, the price of Brent rose by 0.5 percent. The day before, the Opec + group was unable to agree on an increase in oil production. The decision should be made on Friday, but negotiations dragged on. The majority of analysts expect a slight increase in production by 500,000 barrels per day.