Dow's 500-point surge puts blue-chip gauge on track for weekly gain
U.S. stocks advanced Friday, with the Dow rising nearly 400 points, as monthly Labor Department data showed the pace of job creation cooled in December while wage gains slowed, fueling hopes that the Federal Reserve’s interest rate hikes are starting to have the desired effect.
The December nonfarm payrolls report showed 223,000 jobs were created in December, above expectations for 200,000 new jobs, though the pace of job creation slowed from 256,000 during November. Wages grew by just 0.3% in December, down from 0.4% a month earlier.While stocks advanced in the wake of the data, it seems the labor market has continued to confound expectations for an imminent recession, market analysts said.
“The release was a win-win from the Fed’s perspective, as it signaled that wage inflation is moderating while job growth remains steady,” said Peter Essele, Head of Portfolio Management, Commonwealth Financial Network. “Coupled with the fact that headline inflation continues to move in the right direction, there’s a growing chance the Fed may be able to navigate a soft landing in the economy.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
MarketWatch Live: Dow tumbles over 400 points as investors turn attention to jobs dataMarketWatch Live: Dow industrials down 400 points as jobs data capture attention
Lire la suite »
Stock Market News Today: Dow Gains 300 Points After December Jobs ReportStocks rallied as December labor-market data showed cooling wage growth and stronger-than-expected hiring
Lire la suite »
Dow jumps 450 points Friday as latest U.S. data raises hope that inflation may be easingThe major averages are set to close out their first trading week of the year with losses.
Lire la suite »
South Florida migrant encounters up 400%, Border Patrol saysU.S. officials in South Florida have seen a 400% increase in migrant encounters this fiscal year compared to the same period last year, according to Border Patrol Chief Raul Ortiz.
Lire la suite »
Dow futures gain more than 300 points after jobs report shows lighter wage gains than expectedThe major averages are set to close out their first trading week of the year with losses.
Lire la suite »