Arab Today, arab today us stocks hit record highs on jobs report
Last Updated : GMT 05:46:54
Arab Today, arab today
Arab Today, arab today

US stocks hit record highs on jobs report

Arab Today, arab today

Arab Today, arab today US stocks hit record highs on jobs report

New York - AFP

US stocks soared to new closing records Friday after a strong US jobs report revived confidence in the economic recovery. The Dow Jones Industrial Average was up 142.38 (0.96 percent) to 14,973.96, after having breached the 15,000 mark earlier for the first time. The S&P 500 finished at 1,614.42, up 16.83 (1.05 percent), also setting a new record and crossing the 1,600 mark for the first time. The tech-rich Nasdaq Composite Index ended at 3,378.63, up 38.01 (1.14 percent). The rise followed a US Labor Department report that showed the US economy added 165,000 jobs in April, well above market expectations. Upward revisions for the prior two months also showed 114,000 more jobs were added than initially estimated. \"The reason the market is heading higher is because most people on Wall Street expect the fundamentals to improve as the year progresses,\" said Sam Stovall, chief investment strategist at Standard & Poor\'s. Industrial companies were among the biggest gainers in the Dow, including Caterpillar (+3.2 percent), 3M (+1.7 percent) and Alcoa (+1.9 percent). Insurer AIG gained 5.7 percent after reporting earnings late Thursday of $1.34 per share, well above the 87 cents projected by analysts. Biopharmaceutical company Gilead Sciences gained 5.7 percent on increasing hopes about the company\'s innovative hepatitis C medication. Food giant Kraft jumped 5.1 percent after the company beat earnings expectations in its quarterly report and said it was on track to \"deliver every element of our 2013 financial guidance.\" The company saw strong consumption growth in its Kraft Natural and Velveeta cheese brands. Online networking firm LinkedIn sank 12.9 percent despite reporting earnings that bested expectations. Wall Street was unhappy with its second-quarter revenue forecast of $342-$347 million, down from the $359 million projected by analysts. Bond prices fell. The yield on the 10-year US Treasury rose to 1.75 percent from 1.63 percent late Thursday, while the yield on the 30-year bond increased to 2.97 percent from 2.83 percent. Bond prices move inversely to yields.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today us stocks hit record highs on jobs report Arab Today, arab today us stocks hit record highs on jobs report

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today us stocks hit record highs on jobs report Arab Today, arab today us stocks hit record highs on jobs report

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today How to do your own Ramadan corner?

GMT 15:53 2017 Saturday ,27 May

How to do your own Ramadan corner?

GMT 17:28 2017 Thursday ,18 May

Saudi stocks rise in heavy trading

GMT 21:37 2017 Wednesday ,17 May

US Stocks Close Mixed

GMT 04:58 2017 Wednesday ,17 May

Tadawul index gains 0.7%

GMT 06:20 2017 Tuesday ,16 May

Tadawul index climbs 0.6%

GMT 13:43 2017 Monday ,15 May

Oman share index declines marginally
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday