6 May 2016
US stocks end higher, but post second weekly loss in a row
US stocks reversed early losses and managed to close the day with gains, although main Wall Street indexes posted the second weekly loss in a row.
The Dow Jones gained 79.92 points, or 0.45%, to close at 17,740.63. The S&P 500 rose 6.51 points, or 0.32%, to 2,057.14. The Nasdaq Composite advanced 19.06 points, or 0.40%, to finish at 4,736.16.
Early weakness was unleashed by a disappointing employment reading. The nonfarm payrolls report showed US economy added 160K new jobs in April, below the 200K expected, while previous months’ gains were downwardly revised.
However, stocks managed to turn positive as investors focused on the possibility the Fed might delay next rate hike on the back of softer-than-expected jobs data.
The Dow Jones gained 79.92 points, or 0.45%, to close at 17,740.63. The S&P 500 rose 6.51 points, or 0.32%, to 2,057.14. The Nasdaq Composite advanced 19.06 points, or 0.40%, to finish at 4,736.16.
Early weakness was unleashed by a disappointing employment reading. The nonfarm payrolls report showed US economy added 160K new jobs in April, below the 200K expected, while previous months’ gains were downwardly revised.
However, stocks managed to turn positive as investors focused on the possibility the Fed might delay next rate hike on the back of softer-than-expected jobs data.