US stocks rise after mixed jobs data

accreditation
0:00
play article
Subscribers can listen to this article
(Getty)
(Getty)
(Getty)

Wall Street stocks rose early Friday following a mixed US jobs report that was seen as unlikely to spur an abrupt shift in Federal Reserve monetary policy.

The United States added 559 000 jobs last month, below expectations, but the unemployment fell, while the average hourly wage rose more than expected, according to the Labor Department data.

Analysts said the report dimmed concerns the economy is on the cusp of overheating, which could spur a sudden lurch in Fed policy.

"The key takeaway from the report is that it shows there is still ample room for improvement, which is apt to register in the Fed's mind as a basis for sticking with its patient-minded policy approach," said Briefing.com analyst Patrick O'Hare.

About 10 minutes into trading, the Dow Jones Industrial Average was up 0.4% at 34 712.10.

The broad-based S&P 500 gained 0.6% to 4 216.72, while the tech-rich Nasdaq Composite Index jumped 0.9% to 13 730.66.

Among individual companies, AMC Entertainment was down about one percent a day after completing a large stock offering that raised $587.4 billion. AMC ended Thursday's session off 17.9% after nearly doubling the prior day among a buying spree by retail investors.

The rand was trading stronger R13.49 at 16:00 SA time. 

We live in a world where facts and fiction get blurred
In times of uncertainty you need journalism you can trust. For only R75 per month, you have access to a world of in-depth analyses, investigative journalism, top opinions and a range of features. Journalism strengthens democracy. Invest in the future today.
Subscribe to News24
Rand - Dollar
14.02
-1.8%
Rand - Pound
19.61
-1.1%
Rand - Euro
16.83
-0.7%
Rand - Aus dollar
10.67
-0.8%
Rand - Yen
0.13
-1.3%
Gold
1,809.90
-2.6%
Silver
27.07
-2.2%
Palladium
2,806.97
+1.7%
Platinum
1,121.54
-2.9%
Brent Crude
73.99
+1.6%
Top 40
61,062
0.0%
All Share
67,311
0.0%
Resource 10
64,119
0.0%
Industrial 25
88,248
0.0%
Financial 15
13,596
0.0%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Voting Booth
Have you noticed a difference in the voices of women compared to men in virtual meetings?
Please select an option Oops! Something went wrong, please try again later.
Results
Yes, there is a difference.
29% - 83 votes
No, I haven't noticed it.
62% - 179 votes
A bad internet connection worsens it.
9% - 27 votes
Vote