Tag Archives: Despite

Stocks stall despite strong jobs report

dow 1130

Click the chart for more markets data.


It’s jobs day, and investors should have been dancing on their trading desks.

Instead, the Dow, S&P 500 and Nasdaq were all hovering around zero in late morning trading.

The Labor Department said Friday that the economy added 288,000 jobs in April, far better than the 205,000 jobs economists surveyed by CNNMoney had predicted. The unemployment rate fell to 6.3% in April, down from 6.7% in March and beating the 6.6% forecast expected by economists.

The dip in the unemployment rate was mostly due to fewer unemployed people entering the workforce. Still, the number of jobs added was impressive by other measures, with the professional services, construction, and food and beverages sectors showing strength.

“All things considered, today’s report should be reassuring,” said Jim Baird, Chief Investment Officer for Plante Moran Financial Advisors. “It appears that employers have bought into the idea that the weak stretch was weather-driven and would pass with time.”

Related: Fear & Greed Index still gripped by fear

In corporate news, Linkedin (LNKD) beat revenue estimates Thursday, but shares plunged over 5% as investors worried about slowing growth for the career networking site.

Wall Street disconnects from LinkedIn

Retail drugstore chain CVS (CVS, Fortune 500) was up slightly, even though the company’s earnings came in short of estimates.

Shares of AstraZeneca (AZN) were flat after the company rejected an improved bid for the British company from Pfizer (PFE, Fortune 500)worth £50 ($ 84.47) per share, or $ 106.4 billion. Pfizer shares slipped.

“The financial and other terms described in the proposal are inadequate, substantially undervalue AstraZeneca and are not a basis on which to engage with Pfizer,” AstraZeneca said in statement.

Related: CNNMoney’s Tech30

U.S. stocks closed mixed Thursday. The Dow Jones industrial average and S&P 500 closed slightly lower, failing to hit new record highs. The Nasdaq logged modest gains thanks to rebounding social networking stocks.

European markets were mixed in afternoon trading, while Asian markets mostly moved forward Friday, but the gains were modest. To top of page


Despite rising labor market report lukewarm shares

windows 12

Click the chart for more market data.


bad news can be good news again.

The target = “_blank” Dow

While some economists have warned that the weak jobs report could be expected due to the unusually cold weather in January, the number Friday was followed by a low ratio in December, in to that the economy a paltry 75,000 jobs.

“colder than normal temperature is a factor, but it just does not explain two consecutive months of poor performance,” said Peter Morici, an economics professor at the University of Maryland. “The sad results are consistent with an economy largely below average.”

But the low employment growth could mean that the Fed the break to withdraw or tapered its purchases of monthly obligations at its next meeting, and in March, this fundamental why the markets were up Friday after Justin Wiggs, be a distributor of Stifel Nicolaus.

The Fed has the size of its so-called quantitative easing program reduced twice since December. billion in first 85 months up to $ 75 billion, then back to $ 65 billion

Stocks had a tough week with the highs and lows After sinking more than 300 points on Monday.. logged the Dow its biggest win of the year on Thursday.

The market turmoil and concerns about the strength of the emerging American economy could be more volatility mean in the coming months, say market strategists.

Related: Tech CNNMoney 30

On the company before, shares of Apple ( $ AAPL she bought back the stock that they said they would do … nothing new, “said eddy hooks .

Another dealer StockTwits thought salvation was a ploy by Apple to save face, if to impress some investors concerned about the company’s ability to market with new products.

“$ AAPL of ideas,” said bullvsbear .

LinkedIn ( Tech 30 index CNNMoney.

nancefinance regretted that Linkedin is the only game in town for social network Career .

$ LNKD Everyone uses them, but someone a really like it, “she said said.” It’s cumbersome, slow and customer support is lame. “

concentrated more chatter on StockTwits on the high valuation of the stock, based on the result.

” $ LNKD. .. this is the real estate bubble, “said mytfine .

News Corp ( : invest Millennium as their grandparents

European markets excellent finish. Nikkei in Japan was a standout performer, the promotion of 2 ., 2% on Friday, the index is on the rebound after since the beginning of 2014

lose more than 11% -. Annalyn Kurtz CNNMoney contributed to this report t  Up