Investing.com - U.S. stocks snapped a four-day losing streak and
rose on Monday, buoyed by earnings at Berkshire Hathaway Inc
(NYSE:BRKa) as well as news of a bailout for Portuguese financial
institution Banco Espirito Santo.
At the close of U.S. trading, the Dow 30 rose 0.46%, the S&P
500 index rose 0.72%, while the NASDAQ Composite index also rose
The Volatility S&P 500 index, which measures the outlook for
market volatility, was down 11.80% at 15.02.
Investment legend Warren Buffett's stock-picking vehicle
Berkshire Hathaway Inc (NYSE:BRKa) reported second-quarter profits
of $6.4 billion, up 41% on year, which drew applause on Wall
Street, as an improving U.S. economy bolstered the company's
Stocks also rose on news that Portugal's central bank took
control of Banco Espirito Santo (LISBON:BES) via bailout, which
allayed concerns that the financial institution's problems may
rattle the euro zone periphery.
Elsewhere, a second look at Friday's July jobs report also
The Labor Department reported Friday that the U.S. economy added
209,000 jobs in July, missing expectations for an increase of
233,000, though July marked the sixth consecutive month that the
U.S. economy created over 200,000 new payrolls.
The report also showed that the U.S. unemployment rate ticked up
to 6.2% last month from 6.1% in June. Analysts had expected the
rate to remain unchanged in July, though the report revealed that
more unemployed Americans were entering the labor force in search
of work last month, a positive sign.
The unemployment rate does not include discouraged unemployed
individuals who have given up actively searching for work, so a
decision by many to look for jobs can send the headline rate
higher, though it also suggests out-of-work Americans are more
hopeful with their job prospects.
Leading Dow Jones Industrial Average performers included Walt
Disney Company (NYSE:DIS), up 2.18%, Exxon Mobil Corporation
(NYSE:XOM), up 1.35%, and Caterpillar Inc (NYSE:CAT), up 1.27%.
The Dow Jones Industrial Average's worst performers included
Procter & Gamble Company (NYSE:PG), down 0.53%, Boeing Company
(NYSE:BA), down 0.37%, and Pfizer Inc (NYSE:PFE), down 0.36%.
European indices, meanwhile, ended the day mixed.
After the close of European trade, the DJ Euro Stoxx 50 rose
0.07%, France's CAC 40 rose 0.34%, while Germany's DAX fell 0.61%.
Meanwhile, in the U.K. the FTSE 100 fell 0.02%.
On Tuesday, the U.S. is to publish data on factory orders, while
the Institute of Supply Management is to release data on
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