Wall Street opened in the green after the employment data. Coinbase Scale Up 12% Despite Loss

Wall Street started the session on positive ground after four days of losses as investors weighed the latest US employment figures.

The Dow Jones Industrial Average added 1.12%% to 32341.13 point, while the S&P 500 is growing 1.36% to 3,770.36 splatter. The Nasdaq Technology Index rose 1.02% to 10,448.21 splatter.

US companies created 261,000 jobs in October, after the number exceeded estimates (200,000). Data released on Friday by the US Department of Labor Statistics indicates that the labor market remains resilient, despite successive interest rate increases by the US Federal Reserve to combat inflation.

The unemployment rate in turn rose to 3.7%, outpacing September’s 3.5% rate. Since April, the unemployment rate has ranged between 3.5% and 3.7%.

“These numbers alone will not affect the US Federal Reserve (the Federal Reserve) to have a new approach on interest rates,” says Mark Hamrick, chief economist at Bankrate. “[A Fed] There is still a lot of data to digest, including inflation ahead of the December meeting.”

After the central bank this week announced another increase in the reference rate by 75 basis points, the institution’s president, Jerome Powell, acknowledged that “the final level of interest rates will be higher than we previously expected,” but in return, “at some point, as I said in In the last two press conferences, it would be appropriate to slow the pace of the increases to bring inflation back to the 2% target.”

Among the main market movements, it is worth noting a 12.01% rise in Coinbase shares. Despite the loss, many analysts cited by Bloomberg were optimistic, as the results showed, in their view, that the company’s efforts to control costs – in the middle of the “crypto winter” – are working successfully.

Additionally, revenue from registering new users of the platform was $210.5 million, higher than the estimate of 164.4 million cited by experts Bloomberg cited.