# Stocks get a boost from US jobs data, oil rises after OPEC+ deal | Financial Markets | Al Jazeera

> US nonfarm payrolls rose 2.5 million in May, far above forecasts of a loss, and the unemployment rate fell to 13.3%. Asian and US equity futures rose, and oil gained after OPEC+ agreed to extend output cuts.

- Date: 2020-06-08 · published 2020-06-08T12:00:00.000Z
- Category: macro · region US · magnitude medium
- Page: https://feedsoft.ai/events/52791-stocks-get-a-boost-from-us-jobs-data-oil-rises-after-opec-deal-financial
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A stronger US labor market supports the economic recovery and fuel demand outlook, which is supportive for energy and risk assets and can firm the dollar.

## Read by commodity

- DXY: bullish ▲
- WTI: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2017-08-04 | [Oil prices rise after strong US jobs data; rising exports cap gains](https://feedsoft.ai/events/69651-oil-prices-rise-after-strong-us-jobs-data-rising-exports-cap-gains.md) | -1.0% | -3.6% |
| WTI | 2019-02-01 | [Oil rises on strong US jobs data and falling rig count](https://feedsoft.ai/events/60760-oil-rises-on-strong-us-jobs-data-and-falling-rig-count.md) | -2.1% | +6.3% |
| WTI | 2017-02-02 | [No joy from the Fed: What you need to know before markets open - Financial Post](https://feedsoft.ai/events/72400-no-joy-from-the-fed-what-you-need-to-know-before-markets-open-financial-post.md) | -2.8% | -2.4% |
| WTI | 2023-01-10 | [OPEC pricing power limits downside risks to oil prices, Goldman says \| Financial Post](https://feedsoft.ai/events/37951-opec-pricing-power-limits-downside-risks-to-oil-prices-goldman-says-financial.md) | +7.4% | +3.3% |
| WTI | 2021-05-07 | [World stocks, commodities boom on U.S. weak jobs data](https://feedsoft.ai/events/47010-world-stocks-commodities-boom-on-u-s-weak-jobs-data.md) | -1.4% | +7.5% |
| DXY | 2026-08-31 | [Dollar slips ahead of US jobs data - Markets - Business Recorder](https://feedsoft.ai/events/18078-dollar-slips-ahead-of-us-jobs-data-markets-business-recorder.md) | -0.6% | +1.6% |
| DXY | 2023-01-25 | [Sterling slips after data shows UK manufacturers cut prices \| Financial Post](https://feedsoft.ai/events/38019-sterling-slips-after-data-shows-uk-manufacturers-cut-prices-financial-post.md) | -0.1% | +1.5% |
| DXY | 2023-10-12 | [Dollar, yields rise, stocks fall after US consumer price data By Reuters](https://feedsoft.ai/events/33818-dollar-yields-rise-stocks-fall-after-us-consumer-price-data-by-reuters.md) | +0.9% | -0.6% |

## Sources

- aljazeera.com: https://www.aljazeera.com/economy/2020/6/8/stocks-get-a-boost-from-us-jobs-data-oil-rises-after-opec-deal

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.