News - Economics / markets
Categories: Economics / Markets
US stocks have opened sharply ahead this morning as private employers added more jobs than forecast in August, boosting optimism the world’s largest economy can avoid slipping back into recession.
The Dow Jones was 1.26% higher after 30 minutes of trading, while the broader S&P 500 gained 1.33% and the tech-heavy Nasdaq added 1.55%.
Private employers added 67,000 jobs in August, stronger than the 41,000 economists estimated. However, the overall US economy lost 54,000 jobs after the Government cut 114,000 temporary census positions.
The positive private jobs news has led to a sharp decline in treasuries, with the benchmark 10-year yield climbing 12 basis points to 2.74%.
Home Depot, Bank of America and General Electric are leading the gains, all more than 2.5% ahead.
The FTSE 100 has also gains significantly on the news, to sit 1.48% higher to 5,450.43 in afternoon trading. Paris' CAC 40 is 2.01% ahead, while Frankfurt's Dax has added 1.51%.
Categories: Economics / Markets
Comments
The big question
Updating your subscription status 
IW Fund Centre
Run in conjunction with Funds Library, the IW Fund Centre combines qualitative and quantitative data on a huge range of funds.
Have your say
This week: What will happen to the eurozone if Greece leaves?
Job of the week
Events
12 Jun 2012 - 12 Jun 2012
The Cumberland Great Cumberland Place, London W1H 7DL
05 Jul 2012 - 05 Jul 2012
Royal Albert Hall, London Kensington Gore London, Greater London SW7 2AP
