CLOSING UPDATE: U.S. Stocks Spike in Late Afternoon - Recover from Earlier Dip on Disappointing Jobs Data

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U.S. stocks finished higher, scoring a late afternoon pop as they spent the day climbing from lows recorded after the latest payrolls data, which missed expectations and pushed the markets lower just a day after the S&P 500 hit a record high.

Today the Labor Department reported that the U.S. added only 162,000 jobs in July, below the 180,000 analysts were expecting. The unemployment rate, meanwhile, fell to 7.4%.

Other data today included June personal income and spending. Income rose 0.3%, also lagging the consensus looking for a 0.4% rise, but spending beat estimates, climbing 0.5% last month against expectations for a 0.4% increase. Factory orders missed expectations, rising 1.5% in June compared to estimates expecting a more robust 2.3% increase in new orders.

In commodities, oil shed 1% today, taking a hit after the jobs data but over the week the commodity added 2.1%. Gold futures reversed late in the session to close down 0.05%

Here's where the U.S. markets stood at end-of-day:

Dow Jones Industrial Index up 30.34 (+0.19%) to 15,658.36

S&P 500 up 2.80 (+0.16%) to 1,709.67

Nasdaq Composite Index up 13.85 (+0.38%) to 3,689.59


FTSE down 0.42%

DAX down 0.11%

CAC 40 up 0.04%

Nikkei 225 up 3.29%

Hang Seng Index up 0.46%

Shanghai China Composite Index up 0.02%


(+) ADUS, late Thursday reported Q2 earnings of $0.23 per share, beating the Capital IQ consensus by $0.01. Revenues were $65.75 million, also topping the Street view of $63.89 million.

(+) EGOV, provider of online government services reported Q2 results late Thursday that topped expectations.

(+) DELL, Founder Michael Dell and Silver Lake PE firm boost buyout offer to $13.75 per share, which includes a $0.13 special dividend to bring the total offer to $13.88.

(+) ALSK, Posts significant Q2 improvement with earnings of $0.81 per share compared with a $0.02 loss during the same quarter last year.


(-) BYD, Casino operator offers 16.5 million shares at $12 each, a 6.3% discount to Thursday's closing price.

(-) WPRT, Q2 earnings disappoint and the company lowers FY13 revenue guidance by $20 million.

(-) WTW, Revises FY13 earnings guidance to a new range of $3.55 to $3.70, down from its previous outlook of $3.60 to $3.90 per share.

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

Copyright (C) 2016 All rights reserved. Unauthorized reproduction is strictly prohibited.

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

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