Saturday, 8 October 2011

US stocks mixed on jump in job creation aap

US stocks mixed on jump in job creation

aap
On Saturday 8 October 2011, 0:50 EST
US stocks were mostly higher in opening trade on Friday, lifted by a labour market report showing the economy created more jobs than expected in September.
The Dow Jones Industrial Average added 44.88 points (0.40 per cent) to 11,168.21 in the first minute of trade, building on three straight sessions of gains.
The broader S&P 500 climbed 2.11 points (0.18 per cent) to 1167.08, while the tech-heavy Nasdaq Composite fell 1.97 points (0.08 per cent) to 2504.85.
"The winning streak for the US stock markets continues... on the heels of a stronger-than-expected September non-farm payroll report, which also came with upward revisions to the figures posted in August," Charles Schwab analysts said in a note.
An hour before markets opened, the Labour Department reported that the US economy created a net 103,000 jobs in September.
Though that was much stronger than the 60,000 jobs analysts expected, the number of new payrolls was not enough to lower the unemployment rate, which has been stuck at 9.1 per cent for three months.
The department revised upward the two previous months' job creation numbers, indicating the employment picture was better than previously believed.
The July payrolls totaled 127,000, not the 85,000 initially estimated, while the change for August was revised from zero to 57,000.

83 comments

 Post a comment

Post a comment

Sign in to post a comment, or Sign up for a free account.
Posted by Trends Realty and Finance at

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)