“American businesses have created a total of 15 million jobs since February 2010”, U.S. Labor Secretary Thomas Perez said in a statement Friday.
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The Dow Jones industrial average picked up 41.23 points, or 0.2 percent, to 18,355. The S&P 500 index was up 18 points, or 0.8%, to 2,182, setting a fresh all-time intraday high.
Nasdaq 100 e-minis were up 11.25 points, or 0.24 percent, on volume of 10,900 contracts. Analysts predict net income at S&P 500 companies fell 3.2% in the second quarter, better than estimates for a 5.8% contraction in mid-July.
Wall Street advanced modestly on Wednesday after a sharp rise in oil prices boosted energy shares, while better-than-anticipated data on the labour market helped financial stocks. The hiring spree follows an even larger surge in June and represents a turnaround from weak job growth in the first half of this year, including disappointing job gains in April and May.
Meanwhile, the upgraded purchasing managers index for the eurozone in July suggests the eurozone’s economic recovery gained some momentum in the weeks following the U.K.’s vote to exit the European Union. It’s up 2.6 percent over the last 12 months, matching the fastest pace since the recession.
US equities capped a fifth monthly gain on Friday as disappointing growth data for the world’s biggest economy stoked optimism that the Fed won’t accelerate its timetable for higher interest rates, while earnings from Alphabet Inc. boosted technology shares. Banks traded higher as investors anticipated higher interest rates and bigger profits on mortgages and other loans. Bank of America rose 47 cents, or 3.3 percent, to $14.96 and Citigroup added $1.36, or 3.1 percent, to $45.20. The Nasdaq composite is up 6 points, or 0.1 percent, to 5,166.
Investors will also keep their eyes out for another batch of earnings as the season winds down, though there are no major companies reporting Monday.
Ford and General Motors each declined 4 percent.
Standard Chartered bank said there was “no fundamental justification for recent oil price falls” and that “the global oil market has rebalanced, and USA crude supply and inventories are expected to fall”. Devon Energy sank $2.16, or 5.6 percent, to $36.12.
On the corporate front, security software company FireEye tumbled in pre-market trade after its second-quarter earnings missed expectations and it cut its outlook for the year. The Nasdaq composite closed at a record high as tech stocks continued to climb.
The failure of the trial gave a big boost to other companies who might benefit from higher sales for their own drugs. Home Depot also added $1.04 to $137.12 and Nike gained 99 cents, or 1.8 percent, to $55.78.
US stocks edged higher Wednesday as energy companies climbed with the price of oil. Silver fell 63 cents, or 3.1 percent, to $19.82 an ounce. Average hourly wages rose by 8 cents. Brent crude was up 0.8% at $42.11 a barrel, while U.S.
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After a string of losses that stretched over seven consecutive sessions, the Dow Jones Industrial Average 2 Minute (INDEXDJX:.DJI) took a turn higher on Wednesday as rising oil and the corresponding iPath S&P GSCI Crude Oil Total Return (NYSEARCA:OIL) prices lifted USA equities.
