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The latest employment report was strong — with a solid increase in U.S. jobs, a higher labor participation rate and a nice bump in mortgage jobs.
For the month of July, total nonfarm payroll employment increased by 255,000 jobs from the prior month, the Bureau of Labor Statistics reported.
Although the number of jobs added was down from the upwardly revised 292,000 in June, it still represented a solid month of U.S. job growth.
From:: Financing
Jobs increased far above what experts predicted for the second month in a row. Experts point out that not all parts of the report showed good signs, however, and speculate about a rate hike in September. …read more
From:: Real Estate Wire
U.S. stocks opened higher Friday, on track to erase most of their declines from earlier in the week, after a strong July jobs report painted an upbeat picture of the U.S. labor market. The S&P 500 gained 7 points, or 0.2%, to 2,168. The Dow industrials added 90 points, or 0.5%, to 18,446. The Nasdaq Composite rose 24 points, or 0.5%, to 5,190. Official data showed the U.S. economy created 255,000 nonfarm jobs last month, surpassing a consensus forecast for 185,000 from a MarketWatch survey of economists. Average hourly wages climbed 0.3% to $25.69, keeping the 12-month rate of wage gains at a postrecession high.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News
Merck & Co. Inc.’s stock soared $6.16, or 11%, in active premarket trade Friday, after a late-stage trial of a rival’s cancer treatment failed to meet its primary endpoint. That puts the stock on track to open at the highest level seen since Dec. 10, 2001. The share-price gain would add about 42 points to the Dow Jones Industrial Average , which is a price-weighted index. Dow futures were up 95 points. Merck’s stock took off after Bristol-Myers Squibb Co. shares plunged 18% ahead of the open, after the drug maker said a phase 3 trial of its lung cancer treatment failed to meet its primary endpoint.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News
Treasury prices tumbled, leading yields to rise, after the U.S. added 255,000 jobs in July, a number that exceeded expectations and was the second-straight strong gain, after June’s stellar report. The yield on the 10-year Treasury note , the U.S. benchmark, climbed 3.5 basis points to 1.542%. Yields and prices move in opposite directions and one basis point is equal to one hundredth of a percentage point. The yield on the benchmark two-year note , which is the most sensitive to interest-rate-hike expectations added 5.1 basis points to 0.698%. The yield on the 30-year bond gained 3.1 basis points to 2.287%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News
The dollar strengthened Friday after official data showed the U.S. economy created 255,000 jobs in July, surpassing economists expectations. The euro fell to $1.1098 after the data, compared with $1.1128 late Thursday in New York. The dollar rose to 101.46 yen, compared with 101.21 yen late Thursday. The pound declined to $1.3082, compared with $1.3121. Economists polled by MarketWatch had predicted 185,000 new nonfarm jobs. The unemployment rate was unchanged at 4.9%, while the labor-force participation rate edged up to 62.8% as 400,000 people joined the workforce. Average hourly wages rose 0.3% to $25.69 an hour.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News
Bristol-Myers Squibb Co. shares plummeted as much as 19.0% in pre-market trade Friday after the company said its non-small cell lung cancer drug did not meet its primary endpoint in a phase 3 clinical trial. The drug, Opdivo, is already approved to treat some types of cancer and was being investigated for previously untreated advanced non-small cell lung cancer. Shares of the company rose 5.9% over the last three months, compared with a 5.5% rise in the S&P 500 .
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News
WASHINGTON (MarketWatch) – The U.S. added 255,000 jobs in July, a second straight strong gain that shows the economy is still quite healthy despite somewhat slower growth. Economists polled by MarketWatch had predicted 185,000 new nonfarm jobs. The unemployment rate was unchanged at 4.9%. The labor-force participation rate edged up to 62.8%, as more than 400,000 people joined the labor force, the government said Friday. Average hourly wages rose 0.3% to $25.69. Hourly pay increased 2.6% from July 2015 to July 2016. Employment gains for June and May, meanwhile, were revised up by a combined 18,000. The government said 292,000 new jobs were created in June instead of 287,000. May’s gain was raised to 24,000 from 11,000.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News
Twitter Inc. rolled out a new way of creating revenue this week with an “instant unlock card,” that allows users to see exclusive content if they click a button to tweet with a specific hashtag. Twitter said AMC, for example, recently used the format to show users an exclusive trailer for the TV show “The Walking Dead” when they clicked a button to tweet. The move comes as Twitter reported its worst-ever revenue growth in its second-quarter earnings. Shares of Twitter have gained 28% in the past three months, compared to the S&P 500’s gain of 5.5%
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News
Protesters with the Black Lives Matter UK group on Friday shut down the roadway heading into London’s Heathrow Airport and disrupted transportation in other U.K. cities, according to reports. A small group of protesters blocked cars on the M4 motorway and some had chained themselves to the tarmac on the road going into Heathrow, according to The Independent newspaper. Black Lives Matter UK staged a national day of action to mark the fifth year since the shooting death of 29-year-old Mark Duggan by police in London. Black Lives Matter UK said on its Twitter page that at least four people were arrested at Heathrow. In Birmingham, five people were arrested for obstructing the main road into Birmingham Airport, The Telegraph newspaper reported. Activists shut down tram lines in Nottingham’s city center, Black Lives Matter UK said on Twitter.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News