The Markets Now: Dow, S&P Hit New Highs on Employment Report

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Stocks have climbed higher after nonfarm employment payrolls increased more than expected in April. The Dow (INDEXDJX:.DJI) reached a new intraday record, crossing above 15,000 for the first time earlier in the trading session. Currently, the index has increased 1.02% to 14,983.46. The S&P 500 (INDEXSP:.INX) also hit a new intraday record, reaching above 1,600. The index has climbed 1.15% to 1,615.94, and the Nasdaq (INDEXNASDAQ:.IXIC) rose 1.31% to 3,384.27 .

The Bureau of Labor Statistics reported today that total nonfarm payroll employment increased by 165,000 in April, and the unemployment rate ticked down from 7.6% to 7.5%. The unemployment rate has dropped 0.4% since January, and unemployment has decreased by 637,000 since January. The labor force participation rate remained at 63.3%. March's 88,000 figure was revised up to 138,000. Read the press release here .

The Institute for Supply Management, or ISM, reported today in its Non-Manufacturing ISM Report on Business that its Non-Manufacturing Index, or NMI, decreased 1.3% from 54.4% in April to 53.1% in March. A reading over 50 indicates growth. The Non-Manufacturing Business Activity Index fell 1.5% from 56.5% in March to 55% in April. The New Order Index decreased 0.1% month-over-month to 54.5% in April, and the Employment Index fell 1.3% month-over-month to 52% in April. Read the press release here .

The US Census Bureau reported today that new orders for manufactured goods fell $19.5 billion, or 4%, month-over-month to $467.3 billion in March. Excluding transportation, new orders fell 2%. Read the full report here .

Gilead Sciences ( GILD ) spiked 6.32% to $55.48. Yesterday, the world's largest maker of AIDS medicines reported a first-quarter net income of $722 million, or $0.43 per share, compared to $442 million, or $0.28 per share, in the prior-year quarter. Excluding some items, the company earned $0.48 per share. Revenue increased 11% year-over-year to $2.53 billion.

American International Group ( AIG ) rose 5.63% to $44.50. AIG has invested $2.3 billion of its available cash into "high quality fixed-maturity securities with a duration of just over three years." The bonds have a yield rate of over 1%.

Ford ( F ) increased 2.87% to $13.80.

EMC Corporation ( EMC ) climbed 2.23% to $23.39.

Advanced Micro Devices ( AMD ) jumped 9.09% to $3.72.

Twitter: @ChrisWitrak



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.



This article appears in: Investing , Stocks

Referenced Stocks: AIG , AMD , EMC , F , GILD

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