Closing Update: Market Benchmarks All End Higher Following Positive Jobs Report

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Stocks rose Friday, lifting market benchmarks to fresh records after the Labor Department reported another month of strong jobs hiring in May, finally erasing all of the nation's employment losses from the 2008-'09 recession. Employers added 217,000 workers last month, marking the first time since 2000 payrolls rose by more than 200,000 new hires. Nearly all sectors in the S&P 500 rose, led by shares of industrial and energy companies, while healthcare stocks were the lone industry laggard.

The S&P 500 finished with a new record for the sixth time in the past seven sessions and rising about 1.3% for the entire week. The Dow Jones Industrials Average also notched another record close while the Nasdaq Composite index extended gains at its best levels since the Internet bubble years.

Crude oil for July delivery settled 26 cents higher at $102.74 per barrel while July natural gas added 2 cents to finish at $4.72 per 1 million BTU. August gold declined 80 cent to settle at $1,252.70 per ounce while July silver slipped 9 cents to $19.00 per ounce. July copper settled 9 cents lower at $3.05 per pound.

Here's where the markets stand at the end-of-day:

Dow Jones Industrial Average up 88 points (+0.5%) at 16,924

S&P 500 up 9 points (+0.5%) at 1,949

Nasdaq Composite Index up 25 points (+0.6%) at 4,321

GLOBAL SENTIMENT

Hang Seng Index down 0.69%

Shanghai China Composite Index down 0.54%

FTSE 100 Index up 0.66%

UPSIDE MOVERS

(+) ANET, Jumps sharply in its market debut after pricing its initial public offering of 5.25 million shares at $43 apiece, breezing past its expected price range of $36 to $40 per share and generating $225.75 million in gross proceeds.

(+) CMTL, Q3 EPS of $0.32 tops estimates by $0.13 per share. Revenue climbs 27.3% to $88.91 mln, beating consensus view by $10.26 mln. Raises FY14 EPS forecast by $0.11 to new range of $1.25 to $1.30, topping Street by at least $0.05 per share.

(+) ANGI, Upgrade to Buy from Neutral at Bank of America Merrill Lynch.

DOWNSIDE MOVERS

(-) RALY, Q1 revenue rises 21.2% year over year to $19.4 mln, missing analyst estimates by $200,000, although $0.27 per share net loss beats by $0.23. FY15 revenue forecast of $87 mln to $90 mln lags Street view by at least $2.28 mln.

(-) DMND, Q3 net loss widens to $105.6 mln, or $3.63 per share, from a $15.6 mln loss last year. Excluding one-time items, it earned $0.11 per share, trailing Street view by $0.06. Net sales rose 3.2% to $190.9 mln, lagging consensus by $1.1 mln.

(-) HTZ, Warns its 2011 annual report may not be reliable and opens internal audit of its financial documents from the past three years. Also said Q1 results likely will not meet consensus estimates on weak car-rental revenue.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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