Global markets: On Friday, Dow Jones climbed 30 pts to 15,658 while S&P rose 0.2% to 1,709 as data showing employers added fewer workers than anticipated in July signaled the Federal Reserve will continue its stimulus efforts. .The 162,000 increase in payrolls last month was the smallest in four months and followed a revised 188,000 rise in June that was less than initially estimated, Labor Department figures showed today in Washington. The median forecast of 93 economists surveyed by Bloomberg called for a 185,000 gain. Workers spent fewer hours on the job and hourly earnings fell for the first time since October. The unemployment rate dropped to 7.4% from 7.6%. ·About 83% of stocks in the index traded above their average prices from the past 50 days as of yesterday, according to data compiled by Bloomberg. While that’s below a 19-month high of 93% reached in May, it’s up from its 2013 bottom of 12.8% in June. ·Fed officials said this week the labor market has shown “improvement,” while a report showed the U.S. economy grew more than projected in the second quarter. The central bank may begin tapering the pace of its asset purchases in September, according to a growing number of economists surveyed by Bloomberg from July 18 to July 22. (Source: Bloomberg)
Posted on: Mon, 05 Aug 2013 01:30:40 +0000
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