Stocks Flat After Jobs Data

Unemployment report fuels rally

(NEWSER) - Good news about the labor market fueled a rally in stocks today, the Wall Street Journal reports. Slowing declines in payrolls and a 0.1% drop in unemployment—both figures beat expectations—elevated investor sentiment. AIG jumped 22.2% after reporting a $1.8 billion quarterly profit. The Dow gained 113.81 points to close at 9,370.07. The Nasdaq rose 27.09 to 2,000.25, and the S&P 500 added 13.40 to close at 1,010.48. More»

(NEWSER) - Stocks tumbled at the open today after a worse-than-expected drop in June payroll figures, the Wall Street Journal reports. The Dow sunk 135 points, while the Nasdaq and S&P fell 1.8% and 1.6%, respectively. The economy shed 467,000 non-farm jobs in June; economists had predicted a loss of 350,000. “Jobs are usually a lagging indicator,” said one researcher. “But this time, they’re almost a leading indicator. This is a consumer led recession.” More»

(NEWSER) - The markets stalled today even as the Dow flirted with its peak for the year, the Wall Street Journal reports. An early rally on better-than-expected job loss data lost steam on news that the unemployment rate itself grew to its highest since 1983. And insiders aren’t sure that oil and construction gains have legs. “It’s kind of a relief rally,” a CIO said. The Dow was up 12.89 to 8,763.13. The S&P shed 2.37 to 940.09. And the Nasdaq dipped 0.60 to end at 1,849.42. More»

(NEWSER) - A worse-than-expected jobs report sent stocks tumbling at the open today. The Dow careened down 125 points, while the S&P and Nasdaq sunk 1.8% and 1.9%, respectively. The private sector lost 742,000 jobs in March, according to a new ADP report. Investors were also nervous about reports that President Obama viewed bankruptcy as the best option for GM. More»

(NEWSER) - The Dow and the S&P each set intraday records after today’s unexpectedly good jobs news, and the Nasdaq hit a 7-year high. The Dow closed at 14,066.01, up 91.70 points, and the S&P climbed 14.75 to 1,557.59 after indications that a full-on recession would be avoided. The Nasdaq finished at 2,780.32, up 46.75. More»