On Thursday, with the House and Senate agreeing to keep the federal government open for business via a two-week continuing resolution, investors took that relief as reason to rally stocks, erasing some of the losses of the previous week.
As Friday morning advanced toward the opening bell, the Commerce Department's Bureau of Labor Statistics released their most recent data on employment in the November non-farm payroll (NFP) report.
Coming in better-than-expected, the department reported an increase of 228,000 net new jobs in the month of November, adding more evidence that the economy, under the guidance of President Donald J. Trump, continues to expand. The unemployment rate remained at decades-low, 4.1%.
Futures pointed to a strong positive open for Friday's week-ending session.
At the Close, Thursday, December 7, 2017:
Dow: 24,211.48, +70.57 (+0.29%)
NASDAQ: 6,812.84, +36.47 (+0.54%)
S&P 500: 2,636.98, +7.71 (+0.29%)
NYSE Composite: 12,568.98, +36.55 (+0.29%)
Showing posts with label Bureau of Labor Statistics. Show all posts
Showing posts with label Bureau of Labor Statistics. Show all posts
Friday, December 8, 2017
Thursday, October 5, 2017
With September Non-Farm Payroll Data On Deck, Stocks Post Record Highs
Even though ADP reported the weakest jobs numbers in 11 months Wednesday, investors shrugged off the data and limped higher, with all major indices closing at fresh all-time highs.
ADP private employment figures for September showed a gain of 135,000 jobs, with the most damage done to firms with less than 20 employees, which registered a loss of 11,000 jobs. The firm, which tracks private payrolls, was quick to point out that hurricanes Harvey and Irma accounted for 50-60,000 fewer jobs created, noting that many mom-and-pop-like outfits were forced to close during and after the disasters that covered much of Florida and the Houston metropolitan area.
Without doing the requisite math, October's figures are likely to be higher by an order of magnitude, unless Mother Nature unleashes more of her wrath on America's southern states.
The data which ADP provides usually presages the Bureau of Labor Statistics (BLS) Non-farm Payroll release, due out on Friday, October 6.
Wall Street will likely remain unfazed with a low NFP number, taking the easy way out by blaming storms and natural disasters for the poor showing.
Life goes on, new jobs or not.
At the Close, Wednesday, October 4, 2017:
Dow: 22,661.64, +19.97 (+0.09%)
NASDAQ: 6,534.63, +2.91 (+0.04%)
S&P 500: 2,537.74, +3.16 (+0.12%)
NYSE Composite: 12,304.67, +1.79 (+0.01%)
ADP private employment figures for September showed a gain of 135,000 jobs, with the most damage done to firms with less than 20 employees, which registered a loss of 11,000 jobs. The firm, which tracks private payrolls, was quick to point out that hurricanes Harvey and Irma accounted for 50-60,000 fewer jobs created, noting that many mom-and-pop-like outfits were forced to close during and after the disasters that covered much of Florida and the Houston metropolitan area.
Without doing the requisite math, October's figures are likely to be higher by an order of magnitude, unless Mother Nature unleashes more of her wrath on America's southern states.
The data which ADP provides usually presages the Bureau of Labor Statistics (BLS) Non-farm Payroll release, due out on Friday, October 6.
Wall Street will likely remain unfazed with a low NFP number, taking the easy way out by blaming storms and natural disasters for the poor showing.
Life goes on, new jobs or not.
At the Close, Wednesday, October 4, 2017:
Dow: 22,661.64, +19.97 (+0.09%)
NASDAQ: 6,534.63, +2.91 (+0.04%)
S&P 500: 2,537.74, +3.16 (+0.12%)
NYSE Composite: 12,304.67, +1.79 (+0.01%)
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