The early strength on
The report said non-farm payroll employment increased by 217,000 jobs in May after jumping by a revised 282,000 jobs in April. Economists had been expecting employment to rise by about 215,000 jobs.
Buying interest has remained somewhat subdued, however, as traders question whether the economic outlook supports much further upside for the markets.
Nonetheless, airline stocks are seeing significant strength, resulting in a 1.1% gain by the NYSE Arca Airline Index. The gain extends a recent upward move by the index, which has risen to a new twelve-year high.
Housing, electronic storage, and brokerage stocks are also seeing early strength, while most of the other major sectors are showing more modest moves.
After initially moving higher, the major averages have moved roughly sideways in recent trading. The Dow is up 46.12 points or 0.3% at 16,882.23, the Nasdaq is up 14.29 points or 0.3% at 4,310.52 and the S&P 500 is up 4.80 points or 0.3% at 1,945.26.
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