Investing.com - U.S. stocks rose on Friday after data revealed
the U.S. economy added more than 200,000 new nonfarm payrolls in
May for a fourth consecutive month.
At the close of U.S. trading, the Dow 30 rose 0.52%, the S&P
500 index rose 0.46%, while the NASDAQ Composite index rose
The Volatility S&P 500 index, which measures market
volatility, was down 7.76% at 10.75.
The U.S. Labor Department reported earlier that the economy
added 217,000 in May, close to market expectations for a 218,000
increase, after a 282,000 rise in April, whose figure was revised
down from a previously estimated 288,000 gain.
The private sector added 216,000 jobs last month, exceeding
expectations for a 210,000 gain, which drew market applause.
The report also showed that the U.S. unemployment rate remained
unchanged at 6.3% last month compared to expectations for a rise to
U.S. stocks continued to applaud the European Central Bank's
decision to cut its benchmark interest rate on Thursday to a
record-low 0.15% from 0.25%, cut its deposit rate to -0.1% and said
it will support the banking sector to spur lending via targeted
long-term credit injections.
Many U.S. companies are significantly exposed to European
Leading Dow Jones Industrial Average performers included
American Express Company (NYSE:AXP), up 2.27%, Goldman Sachs Group
Inc (NYSE:GS), up 2.24%, and Intel Corporation (NASDAQ:INTC), up
The Dow Jones Industrial Average's worst performers included
Pfizer Inc (NYSE:PFE), down 1.16%, The Travelers Companies Inc
(NYSE:TRV), down 0.64%, and McDonald's Corporation (NYSE:MCD), down
European indices, meanwhile, ended the day higher.
After the close of European trade, the DJ Euro Stoxx 50 rose
0.76%, France's CAC 40 rose 0.71%, while Germany's DAX rose 0.40%.
Meanwhile, in the U.K. the FTSE 100 rose 0.66%.
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