Arab Today, arab today us stocks inch up on unexpectedly strong job gains
Last Updated : GMT 21:31:16
Arab Today, arab today
Arab Today, arab today

US stocks inch up on unexpectedly strong job gains

Arab Today, arab today

Arab Today, arab today US stocks inch up on unexpectedly strong job gains

New York - SPA

Stocks edged higher in early Friday trading as investors reacted to an unexpectedly strong October jobs report. AP reported that investors are still cautious because Friday's jobs numbers and Thursday's surprisingly strong report on U.S. economic growth could be the evidence the Federal Reserve needs to start pulling back on its economic stimulus. The Standard & Poor's 500 index was up three points, or 0.2 percent, to 1,750 in the first half hour of trading. The Dow Jones industrial average was up 12 points, or 0.1 percent, to 15,604. The Nasdaq composite rose 22 points, or 0.6 percent, to 3,879. It was the second piece of unexpectedly robust economic news that Wall Street received in the past two days. The Commerce Department said Thursday that the U.S. economy grew at a 2.8 percent annualized rate in the third quarter, better than the 2.5 percent rate economists were looking for.

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