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US stocks post third weekly gain

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 4, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    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.
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