The major averages have moved roughly sideways in recent trading, hovering in positive territory. The Dow is up 65.26 points or 0.4% at 16,901.37, the Nasdaq is up 20.63 points or 0.5% at 4,316.86 and the S&P 500 is up 7.34 points or 0.4% at 1,947.80.
The 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.
Among individual stocks, shares of
On the other hand, shares of
Airline stocks continue to see significant strength in mid-day trading, with the NYSE Arca Airline Index up by 1.7%. The gain extends a recent upward move by the index, which has risen to a new twelve-year intraday high.
Considerable strength has also emerged among brokerage stocks, as reflected by the 1.3% gain being posted by the NYSE Arca Broker/Dealer Index. The index is on pace to end the session at its best closing level in two months.
Housing, steel, and electronic storage stocks are also seeing notable strength on the day, while most of the other major sectors have shown more modest moves to the upside.
In overseas trading, stock markets across the
Meanwhile, the major European markets all moved to the upside on the day. While the German DAX Index climbed by 0.4%, the
In the bond market, treasuries have shown a lack of direction on the day and are currently nearly flat. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, is down by less than a basis point at 2.581%.
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