U.S. stocks gain on upbeat U.S. payroll report; Dow rises 0.54%

Investing.com - Investing.com - An upbeat June jobs report sent U.S. stocks climbing on Thursday, a day after private-sector employment data beat market expectations as well.

Stock markets closed early ahead of Friday's Independence Day holiday in the U.S.

At the close of U.S. trading, the Dow 30 rose 0.54%, the S&P 500 index rose 0.55%, while theNASDAQ Composite index rose 0.63%.

The Volatility S&P 500 index, which measures the outlook for market volatility, was down 4.62% at 10.32.

Stocks rose after the U.S. Department of Labor reported that non-farm payrolls rose by 288,000 in June, easily surpassing expectations for an increase of 212,000. May's figure was revised up to a gain of 224,000 from 217,000.

The unemployment rate ticked down to 6.1% from 6.3% in May. Analysts had expected the jobless rate to hold steady at 6.3% last month.

A day earlier payroll processor ADP reported in its nonfarm payrolls report that the U.S private sector added 281,000 jobs last month, beating expectations for an increase of 200,000.

The numbers gave stock prices a shot in the arm by fueling hopes that the U.S. economy continues to recover, which will reflect in corporate earnings going forward.

Also on Thursday, the Institute of Supply Management said its non-manufacturing purchasing managers' index fell to 56.0 in June from 56.3 in May. Analysts had expected the index to hold steady at 56.3 in June, though investors shrugged off the data.

Leading Dow Jones Industrial Average performers included Goldman Sachs Group Inc (NYSE:GS), up 1.47%, Exxon Mobil Corporation (NYSE:XOM), up 1.29%, and Caterpillar Inc (NYSE:CAT), up 1.28%.

The Dow Jones Industrial Average's worst performers included Microsoft Corporation (NASDAQ:MSFT), down 0.32%, Coca-Cola Enterprises Inc (NYSE:CCE), down 0.19%, and Home Depot Inc (NYSE:HD), down 0.02%.

European indices, meanwhile, ended the day higher.

After the close of European trade, the DJ Euro Stoxx 50 rose 1.12%, France's CAC 40 rose 1.02%, while Germany's DAX rose 1.19%. Meanwhile, in the U.K. the FTSE 100 rose 0.72%.

On Friday, markets in the U.S. are to remain closed for the Independence Day holiday.

Investing.com offers an extensive set of professional tools for the financial markets.
Read more News on Investing.com and download the new Investing.com Stocks & Forex App for Android!

Anda sedang membaca artikel tentang

U.S. stocks gain on upbeat U.S. payroll report; Dow rises 0.54%

Dengan url

http://efektifkesehatan.blogspot.com/2014/07/us-stocks-gain-on-upbeat-us-payroll.html

Efektif Kesehatan