1
 

U.S stocks gain on strong April jobs report; Dow rises 0.96%

By Investing.com  |  Stock Market News  |  May 03, 2013 08:14PM GMT  |   Add a Comment
 
AA
+
-
Investing.com - A much stronger-than-expected U.S. April jobs report sent stocks gaining on Friday, with the Dow Jones Industrial Average topping the 15,000 mark briefly while the S&P 500 index closed above 1,600.

U.S stocks gain on strong April jobs report; Dow rises 0.96%
At the close of U.S. trading, the Dow Jones Industrial Average finished up 0.96%, the S&P 500 index rose 1.05%, while the Nasdaq Composite index rose 1.14%.

The Bureau of Labor Statistics reported earlier that the U.S. economy added 165,000 nonfarm payrolls in April, up from 138,000 in March, whose figure was revised up from 88,000.

April's figures far outpaced analysts' forecasts for a 145,000 figure, while February's figures were revised to 332,000 from 268,000.

The headline unemployment rate ticked down to 7.5% in April from 7.6% in March.

The numbers fueled demand for risk-on asset classes such as stocks, which enticed investors out of the safety of the dollar and sparked a rally on Wall Street

Elsewhere, the Institute for Supply Management reported that its April non-manufacturing index fell to 53.1 in April from 54.4 in March, missing market calls for a 54.0 reading, the slowest pace of expansion since July of last year.

Still, a reading over 50 indicates expansion, which gave stocks further room to rise.

Leading Dow Jones Industrial Average performers included Caterpillar, up 3.24%, Alcoa, up 2.01%, and Boeing, up 1.67%.

The Dow Jones Industrial Average's worst performers included Pfizer, down 1.09%, JPMorgan & Chase, down 1.04%, and UnitedHealth Group, down 0.94%.

European indices, meanwhile, finished higher.

After the close of European trade, the EURO STOXX 50 rose 1.65%, France's CAC 40 rose 1.40%, while Germany's DAX 30 finished up 2.02%. Meanwhile, in the U.K. the FTSE 100 finished up 0.94%.










Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data .

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Related Articles

Some Farmers Uneasy As Wal-Mart Rolls Out Organic Line
By 
International Business Times
 - Apr 23, 2014
Apple Revenue Beats Estimate, OKs 7-for-1 Stock Split
By 
International Business Times
 - Apr 23, 2014
Facebook Revenue, Mobile Ads Surge In Q1
By 
International Business Times
 - Apr 23, 2014

Add a Comment

 

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

NQ 100
 
 
 
Are you sure you want to delete this chart?
 
 
 
Are you sure you want to delete this chart?
 
 
 

Successfully Reported

Thank you. This comment has been flagged for a moderator.
_touchLoadingMsg