DOWNLOAD OUR APP
IndiaOnline playstore
12:06 AM | Mon, 25 Jul 2016

Download Our Mobile App

Download Font

US stocks extend gains after key jobs report

141 Days ago

New York, March 5 (IANS) The US stocks traded in a narrow range on Friday, as investors digested the newly-released jobs report for indications of the economic conditions and the course of the US Federal Reserve's monetary policy.

By noon, the Dow Jones Industrial Average rose 54.41 points, or 0.32 percent, to 16,998.31. The S&P 500 gained 6.96 points, or 0.35 percent, to 2,000.36. The Nasdaq Composite Index was up 14.01 points, or 0.30 percent, to 4,721.44, Xinhua news agency reported.

Total non-farm payroll employment increased by 242,000 in February, topping market expectations, and the unemployment rate was unchanged at 4.9 percent, the US Labour Department announced on Friday.

In February, average hourly earnings for all employees on private non-farm payrolls declined 3 cents to $25.35, following an increase of 12 cents in January. Average hourly earnings have risen by 2.2 percent over the year.

Analysts said the upbeat jobs data pointed to a modest recovery in the US economy, and create conditions for the Fed to gradually raise interest rates this year.

"Lots of poor quality jobs might encourage the Fed to raise rate, but falling wages and hours should keep them at bay in March at least," said Chris Low, chief economist at FTN Financial.

The goods and services deficit was $45.7 billion in January, up $1 billion from the revised level of $44.7 billion in December, the US Commerce Department reported on Friday. (IANS)

Viewed 30 times
  • SHARE THIS
  • TWEET THIS
  • SHARE THIS
  • E-mail

Our Media Partners

app banner

REVOLUTIONARY ONE-STOP ALL-IN-1 MARKETING & BUSINESS SOLUTIONS

  • Digital Marketing
  • Website Designing
  • SMS Marketing
  • Catalogue Designing & Distribution
  • Branding
  • Offers Promotions
  • Manpower Hiring
  • Dealers
    Retail Shops
    Online Sellers

  • Distributors
    Wholesalers
    Manufacturers

  • Hotels
    Restaurants
    Entertainment

  • Doctors
    Chemists
    Hospitals

  • Agencies
    Brokers
    Consultants

  • Coaching Centres
    Hobby Classes
    Institutes

  • All types of
    Small & Medium
    Businesses

  • All types of
    Service
    Providers

FIND OUT MORE