4 Mar 2016
US stocks post third weekly gain
US stocks closed higher on Friday underpinned by oil rise and above expectations nonfarm payrolls data. All three indexes posted their third weekly gain in a row.
The Dow industrials rose 62.87 points, or 0.37%, to 17,006.77. The S&P 500 gained 6.59 points, or 0.33%, to 1,999.99. The Nasdaq Composite gained 9.6 points, or 0.2%, to 4,717.02.
On the data front, the US Labor Department reported that the economy added 242,000 jobs in February, above 190,000 expected, while the unemployment rate held at 4.9%. However, The average hourly earnings posted only their first decline since December 2014, declining by -0.1%, and the average weekly hours worked also dropped substantially by 0.2 to 34.4.
The Dow industrials rose 62.87 points, or 0.37%, to 17,006.77. The S&P 500 gained 6.59 points, or 0.33%, to 1,999.99. The Nasdaq Composite gained 9.6 points, or 0.2%, to 4,717.02.
On the data front, the US Labor Department reported that the economy added 242,000 jobs in February, above 190,000 expected, while the unemployment rate held at 4.9%. However, The average hourly earnings posted only their first decline since December 2014, declining by -0.1%, and the average weekly hours worked also dropped substantially by 0.2 to 34.4.