Currently, the major averages are posting modest gains. The Dow is up 8.03 points or 0.1% at 16,964.10, the Nasdaq is up 3.19 points or 0.1% at 4,461.84 and the S&P 500 is up 0.44 points or less than a tenth of a % at 1,973.76.
The initial strength on
ADP said employment in the private sector surged up by 281,000 jobs in June following an increase of 179,000 jobs in May. Economists had been expecting employment to climb by about 205,000 jobs.
The substantial private sector job growth in June reflected the biggest monthly increase in employment since November of 2012.
While the data generated some optimism about the
A separate report from the
Gold and steel stocks are seeing some strength in early trading, although weakness among airline and utilities stocks has helped to limit the upside for the markets.
In overseas trading, stock markets across the
Meanwhile, the major European markets have turned mixed on the day. While the French CAC 40 Index has fallen by 0.4%, the German DAX Index is just above the unchanged line and the
In the bond market, treasuries are extending yesterday's pullback on the heels of the upbeat jobs data. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, is up by 3.6 basis points at 2.599%.
Most Popular Stories
- Criminal Investigation Opened Into James Foley's Death
- The Hip New Career? Farming
- McDonald's Names Another U.S. President
- Student Startup Develops Date-rape Detector
- Sahara Casino Rises Anew as SLS Las Vegas
- Chinese Coal Gas Boom Poses Climate Risks
- Job Market Shifts Complicate Yellen's Rate Decision
- Is Diversity in the Eye of the Beholder?
- U.S. Supporters of Islamic State Get Close Scrutiny
- Dems Losing Fear of Obamacare