Stock market attempts rebound from multiday skid after healthy jobs report

Friday, 3 May 2019 20:51 WIB

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Stock-market benchmarks rose at the opening bell on Friday, putting the S&P 500 and Dow on track to snap back-to-back losses, after a stellar jobs report underlined the economy's strength.

The S&P 500 rose 0.4% to around 2,929. The Dow Jones Industrial Average advanced 129 points, or 0.5%, to 26,347. The Nasdaq Composite climbed 0.6% to around 8,089.

The U.S. economy added 263,000 jobs in April, pushing down the unemployment rate to a 49-year low of 3.6%. At the same time, average hourly earnings rose 0.2%. With wage gains muted, the central bank is likely to hold rates steady at a range between 2.25% and 2.50% in the near term, analysts said. In company news, shares of Inc. rose 2.5% after billionaire Warren Buffett said Berkshire Hathaway had scooped up stock of the e-commerce giant.

Source : MarketWatch


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