MARKET ROUNDUP (Source Bloomberg)

U.S. Stocks Cap Longest Weekly Gain Since August on Jobs; as employment growth topped forecasts and investors weighed prospects for a budget agreement in Washington. The S&P 500 (SPXL1) increased 0.1 percent to 1,418.07 for the week. The benchmark measure for American equities extended its advance from a three-month low on Nov. 15 to 4.8 percent and finished at the highest level since Election Day. The Dow Jones Industrial Average added 129.55 points, or 1 percent, to 13,155.13. The S&P 500 is down 0.7 percent since President Barack Obama was re-elected on Nov. 6 as he seeks a deal with Republican lawmakers to prevent more than $600 billion of automatic tax increases and spending cuts from coming into effect next year.

European Stocks Rally for Third Week on China, U.S. Talks; amid increasing optimism that China's economy will sustain its recovery and U.S. lawmakers will reach a compromise to avoid a fiscal deadlock. The benchmark Stoxx Europe 600 Index (SXXP) advanced 1.2 percent to 279.17 this week, the highest since May 2011. The gauge has rallied 19 percent from this year's low on June 4 as the European Central Bank and the Federal Reserve expanded bond purchases and U.S. economic data beat estimates. In the euro area, German Chancellor Angela Merkel hinted at the possibility that her country will eventually accept a write- off of Greek debt. Greece made a 10 billion-euro ($13 billion) offer to buy back bonds.

Oil Caps Weekly Loss as Dollar Strengthens Against Euro; after the U.S. jobless rate fell and Germany cut its growth forecast. Crude for January delivery decreased 33 cents to settle at $85.93 a barrel on the New York Mercantile Exchange. Prices dropped 3.4 percent this week and are down 13 percent this year. The dollar advanced as much as 0.7 percent to $1.2877 per euro, the highest level since Nov. 23. A stronger dollar and weaker common currency reduce oil's appeal as an investment alternative.

Source:Jupiter Securities Research, 10 December 2012