An upbeat jobs report lifted the markets to a higher open with the Dow climbing 109 points to 25,004. Nasdaq gained 48 points to 7475.On the upsideBTIG upgraded Nutanix (Nasdaq: NTNX) from a Hold rating to a Buy rating.Wynn Resorts (Nasdaq: WYNN) will pay $2.6 billion to settle a lawsuit that resolves all claims between Wynn Resorts, Universal Entertainment and Aruze.United Natural Foods (Nasdaq: UNFI) reported higher second quarter earnings and revenue.On the downside Finisar (Nasdaq: FNSR) fell to a greater than expected loss for the third quarter.A report that Toys R Us may liquidate all of its stores in the U.S. sent shares of Mattel (Nasdaq: MAT) lower.ZTO Express (NYSE: ZTO) announced the resignation of chief financial officer James Guo.In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 3 on the NYSE and by 2 to 1 Nasdaq. The broader S&P 500 climbed 14 points to 2,752. Bitcoin dropped $103 to $9,166. … [Read more...] about Upbeat jobs report lifts markets
Jobs report
Jobs report to show whether pay gains portend high inflation
Christopher Rugaber, Ap Economics Writer Updated 2:02 am, Friday, March 9, 2018 WASHINGTON (AP) — The February U.S. jobs report being released Friday will help address a question on the minds of many: Is worker pay finally accelerating? January's jobs data had shown the sharpest year-over-year average pay increase in eight years. That news ignited a sustained sell-off in stocks on fears that inflation might be picking up. In the week that followed the release of the January wage data, traders sent stock prices tumbling 10 percent — deep enough to qualify as a "correction" — for the first time in two years. And bond yields surged to their highest levels in four years. That increase reflected anticipation that the Federal Reserve might step up its rate hikes to control inflation. A broad and sustained pickup in pay gains is considered good news by most people, especially since average wage increases have been mostly stagnant since the Great Recession … [Read more...] about Jobs report to show whether pay gains portend high inflation
Here’s why the February jobs report is coming out in the middle of the month
Andy Kiersz, provided by Published 3:16 pm, Thursday, March 8, 2018 Reuters/Jonathan Drake The monthly jobs report usually comes out on the first Friday of the month, but the February 2018 report will be out March 9, the second Friday. That can happen from time to time, depending on when the surveys behind the jobs report are taken during a short month. The jobs report is a monthly ritual for anyone following markets or the US economy, as it contains some of the main data points measuring the health of the labor market in the world's largest economy. Recommended Video: Now Playing: Kushner himself no longer has access to highly classified information, multiple sources briefed on the memo told NBC News, but a spokesperson for Kushner said Tuesday that the new clearance policy will not affect his "ability to continue to do the very important work he has been assigned by the president." He is not the only White House official whose clearance is impacted: Other … [Read more...] about Here’s why the February jobs report is coming out in the middle of the month
3 things to look for in the jobs report
Since U.S. equities plunged into "correction" territory in early February, stock prices have bounced around as fear turns to greed and then back to fear. But the magnitude of those moves is diminishing, tightening the trading range of the Dow Jones industrials as investors await clarity on two major issues: President Trump's Thursday tariff signing and the latest jobs numbers on Friday. Remember, it was the inclusion of better-than-expected wage data in the January jobs report that set off the market rout since early February on fears higher wages would fuel inflation and spark a more aggressive pace of rate hikes from the Federal Reserve. Any breakout from this pattern should carry momentum, either setting up a push to new highs (especially for the tech-heavy Nasdaq) or a possible test of the February lows. And that means investors are going to be poring over every little detail in the February nonfarm payroll report. Here are three key factors to watch for. … [Read more...] about 3 things to look for in the jobs report
Why Jobs Report Will Be More Revealing
The monthly U.S. jobs report is among the most eagerly awaited data releases, and for good reasons. It provides a snapshot of the underlying health of the economy that also speaks to political, social and institutional well-being. The numbers for February, which will be released Friday, could also shed light on the speed and orderliness of important ongoing transitions in the economy, markets and policy. Viewed in most economic terms, the data contained in the jobs report highlight both supply and demand issues. The evolution of unemployment and underemployment, as well as the labor participation rate, feed directly into assessments of the economy’s production capacity and its “safe” speed, or the sweet spot between “overheating” and “slack.” Details of employment conditions of different segments of the population are inputs for assessments of the structural evolution of the economy. And, on the demand side, jobs and wage growth are significant … [Read more...] about Why Jobs Report Will Be More Revealing