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 ...
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