Post by bot on Nov 8, 2013 18:46:08 GMT -5
U.S. stocks rise at the open after jobs report
NEW YORK (MarketWatch) -- U.S. stocks edged up at the open on Friday, as investors digested a stronger-than-expected jobs report that initially hammered stock futures. The S&P 500 was last up 3 points, or 0.2%, to 1,750, while the Dow Jones Industrial Average gained 25 points, or 0.2%, to 15,620. The Nasdaq Composite rose 21 points, or 0.5%, to 3,878. The jobs report at first spurred bets that the Federal Reserve could begin tapering its bond-buying program sooner than expected, but then investors reconsidered that reaction. Nick Colas, chief market strategist at ConvergEx Group, said stock futures recovered as market participants questioned some details in the jobs report. While the headline number was strong, many jobs added were part time, and participants wondered about the eventual revisions, he said. "I think there's a lot of skepticism of the quality of this number," Colas told MarketWatch.
NEW YORK (MarketWatch) -- U.S. stocks edged up at the open on Friday, as investors digested a stronger-than-expected jobs report that initially hammered stock futures. The S&P 500 was last up 3 points, or 0.2%, to 1,750, while the Dow Jones Industrial Average gained 25 points, or 0.2%, to 15,620. The Nasdaq Composite rose 21 points, or 0.5%, to 3,878. The jobs report at first spurred bets that the Federal Reserve could begin tapering its bond-buying program sooner than expected, but then investors reconsidered that reaction. Nick Colas, chief market strategist at ConvergEx Group, said stock futures recovered as market participants questioned some details in the jobs report. While the headline number was strong, many jobs added were part time, and participants wondered about the eventual revisions, he said. "I think there's a lot of skepticism of the quality of this number," Colas told MarketWatch.
