Friday, the US stocks markets closed higher by logging impressive, broad-based gains for the week. Friday''s rally was broadly due to the better-than-expected jobs report. Financials propelled to fresh highs 2009 by logging a 2.7%gain led by AIG which was a primary leader in the financial sector after posting its first profit since 2007 and also its earnings exceeded expectations. The mortgage financer Fannie Mae however posted a deeper-than-expected loss for the latest quarter.
The Dow Jones Industrial Average (DJIA) suregd by 113.81 points at 9,370.07, NASDAQ index grew by 27.09 points to 2,000.25 and the S&P 500 (SPX) advanced by 13.40 points to close at 1,010.48 points.
On the economic front, the jobs report came in better than expected. The report showed the fewest amount of job losses in nearly one year by coming in at 247,000 for July as against the consensus estimate called for 350,000 job losses.
Meanwhile, the unemployment rate eased back for the first time since April by coming in at 9.4%, down from 9.5%. It was expected to click up to 9.6%.
US light crude oil futures for September delivery closed at $70.88 per barrel down by 1.5% on the New York Mercantile Exchange.
Gold futures for the month of December delivery finished the session marginally lower at $959.80 per ounce down by 0.3% on the New York Mercantile Exchange.
The Dow Jones Industrial Average (DJIA) suregd by 113.81 points at 9,370.07, NASDAQ index grew by 27.09 points to 2,000.25 and the S&P 500 (SPX) advanced by 13.40 points to close at 1,010.48 points.
On the economic front, the jobs report came in better than expected. The report showed the fewest amount of job losses in nearly one year by coming in at 247,000 for July as against the consensus estimate called for 350,000 job losses.
Meanwhile, the unemployment rate eased back for the first time since April by coming in at 9.4%, down from 9.5%. It was expected to click up to 9.6%.
US light crude oil futures for September delivery closed at $70.88 per barrel down by 1.5% on the New York Mercantile Exchange.
Gold futures for the month of December delivery finished the session marginally lower at $959.80 per ounce down by 0.3% on the New York Mercantile Exchange.
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