Wall Street surges 2% after strong labor data

2019-01-04 15:50:10 GMT (Economies.com)
Wall Street surges 2% after strong labor data

US stock indices opened the last session of the week higher after a spate of upbeat news while Congress introduced a bill to end the partial government shutdown, and amid rising optimism over the US-China trade negotiations. 

 

Earlier US data showed the unemployment rate rose to 3.9% in December from 3.7% in November, which was the lowest since 1969, while analysts expected no change. 

 

US average hourly earnings rose 0.4% in December, beating estimates of 0.3% and up from 0.2% in November. 

 

The US economy added 312 thousand new jobs in December, the fastest such pace since February 2018, and beating estimates of 179K, and compared to November's 176K, revised from 155K. 

 

 Federal Reserve Chair Jerome Powell is due to participate in a panel discussion titled "Federal Reserve chairs: Joint Interview" at the American Economic Association's Annual Meeting, in Atlanta, while Congress introduced bills to end the partial government shutdown starting two weeks ago, in order to fund several federal agencies until February 8. 

 

Stock Performance 

 

As of 03:07 GMT, Standard and Poor's 500 rose 2.10%, or 51.40 points to 2,499.29, while Dow Jones spiked 2.09%, or 474.91 points to 23,161.13. 

 

Tech-heavy Nasdaq surged 2.35%, or 151.58 points to 6,615.08. 

 
 
 
  Symbol Last Change Chg.%
1.1383
-0.0080
0.6957%
1.2859
0.0002
0.0136%
15.546
-0.051
0.330%
51.900
0.280
0.542%
60.98
-0.34
0.55%
1292.610
4.850
0.377%
 
 
US
 
Europe
 
Asia