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U.S. stocks up due to positive jobs report

September 5, 2013

Wall Street ticks up on data but Fed caution caps gains

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Today – Thursday 5th September 2013

  • U.S. stocks rose today due to improving jobs report, the ADP National Employment report showed U.S. private employers added 176,000 jobs in August, nearly matching expectations, while weekly initial jobless claims fell more than expected to a seasonally adjusted 323,000. Which shows that there’s job growth in the U.S. and conditions are improving thus leading to bringing confidence into the stock market.
  • The Dow Jones industrial average rose 6.61 points, or less than 0.1 percent, to close at 14,937.48. The Standard & Poor’s 500-stock index rose 2 points, or 0.1 percent, to 1,655.08. The Nasdaq composite index gained 9.74 points, or 0.3 percent, to 3,658.78.
  • Walgreens and Costco were the biggest gainers today in retail because their sales increased and passed analyst expectations.
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