Stocks surge higher after G20 meeting raises hopes for the economy
U.S. stocks are following overseas markets, which are rising after officials from the Group of 20 countries agreed to keep economic stimulus measures in place.
Investors are awaiting retailers’ earnings reports to see how much consumers are spending as the holidays approach. The market is concerned that rising unemployment, which now sits at 10.2 percent, will further discourage already hesitant consumers from spending.
Stocks rise on GE upgrade despite weak employment data
U.S. stocks rose on Friday as investors took heart after the government said monthly payroll losses slowed, even as unemployment rose above 10 percent.
General Electric Co shares jumped more than 5 percent after a brokerage upgrade, and helped lead the industrial sector higher.
The market had opened lower after data showed the unemployment rate topped the psychologically key 10 percent level and reached the highest point since April 1983.
Stocks surge higher on better jobs data
Stocks climbed in early trading Thursday after the market got encouraging news on jobs and consumer spending, two of the economy’s biggest trouble spots.
The Labor Department said the number of newly laid-off workers seeking unemployment benefits fell to 512,000 last week, the lowest level since January. Economists had expected 523,000 new claims.
Initial claims are considered a gauge of the pace of layoffs and an indication of employers’ willingness to hire new workers. The report offered investors fresh hope that the government’s monthly report on employment Friday may come in better than expected. Economists expect the unemployment rate to have risen to 9.9 percent in October.
Stocks are higher on positive employment data
Encouraging news on the labor market buoyed stocks in early trading Wednesday as investors waited for the Federal Reserve to weigh in on the economy.
The ADP National Employment Report said 203,000 private sector jobs were lost in October, down from the 227,000 jobs lost in September. It was the seventh straight month of declining job losses.
Stocks are lower as economic worries persist and traders draw little comfort from Buffett deal
Investors worried about the economic recovery drew only modest comfort from billionaire investor Warren Buffett’s decision to buy one of the nation’s largest railroads.
Buffett’s Berkshire Hathaway said Tuesday it is paying $100 a share for Burlington Northern Santa Fe in a deal valuing the railroad at $34 billion.
Investors are on edge about unemployment and the stability of major financial firms in Europe.
Stocks are sharply higher on manufacturing and housing data
Stocks are snapping back from Friday’s big losses as stronger-than-expected reports on manufacturing and housing allay concerns that the economy’s recovery won’t last.
Major indexes rose more than 1 percent in early trading Monday, including the Dow Jones industrials, which gained 112 points, erasing a chunk of Friday’s 250-point loss.