Dow surges on strong jobs report
In late trading, USA benchmark 10-year yields were up at 2.897 percent after earlier hitting session highs, from Thursday's 2.866 percent. That was down from January's revised pace of 2.8 percent, which had spooked investors because it raised fears of inflation. Job gains typically slow as the unemployment rate falls, because companies run out of workers to hire. The broader economy is also showing unusual resilience: Its expansion since the Great Recession ended almost nine years ago is the third-longest on record.
Yet job growth has accelerated in recent months. Job growth has averaged 242,000 over the past three months, above 2017's monthly pace of 187,000.
"The probability of four rate hikes this year increased last month a bit after the January jobs report but I think it still stays near three", said Katie Nixon, chief investment officer for Northern Trust Wealth Management. "The pace of job growth is gaining momentum - a very impressive development at this stage of the economic cycle".
The Federal Reserve may well raise US interest rates four times this year given the boost from tax cuts and spending, and overseas strength that will further stimulate the USA economy, a top US central banker said on Friday. USA employers have also benefited from a strengthened global economy.
By 8.47 am ET, Dow were up 151 points, or 0.61 per cent, S&P 500 e-minis were up 13.5 points, or 0.49 per cent. Nasdaq 100 e-minis were up 45.75 points, or 0.66 per cent.
"This is consistent with the view that there are still many workers who are outside the workforce, but will return in response to a strong labour market", wrote Dean Baker, a senior economist at the Center for Economic and Policy Research.
NEW YORK, March 9 (Reuters) - U.S. Treasury yields advanced on Friday after data showed the world's largest economy created far more jobs than expected in February, reinforcing expectations the Federal Reserve would raise interest rates at least three times this year.
Indian Wells: Roger Federer out for revenge against Federico Delbonis
Federer, 36, is nearing the latter end of his career but boasts a brilliant 20 Grand Slam titles. Nadal, on the other hand, improved his overall tally.
Jobs report surprise: 313000 added in February
The January year-over-year wage increase originally was reported as 2.9 percent, an uptick that fueled fears of higher inflation. Just as businesses focus on the customer experience, Krenke said employers must pay more attention to the worker experience.
Real Madrid coach Zidane again jumps to Benzema defence
Real Madrid manager Zinedine Zidane has predicted that the €400m (£356) transfer barrier will be broken within the next decade. I thought that was insane back then", Zidane said, as quoted by SportsKeeda .
The Fed is considered certain to raise rates when it next meets in two weeks.
Economists have forecast that the report will show employers added a solid 200,000 jobs in February, the same as in January, according to data provider FactSet. That has helped address numerous nation's long-term problems dating to the Great Recession.
The consistently strong pace of hiring has led many more people who had been on the sidelines to start looking for work.
The proportion of adults working or looking for work jumped to 63 percent from 62.7 percent, still far below its pre-recession levels in 2007. That suggests that enough younger people are stepping in to offset those retirements. Yields rose sharply earlier this year due to concerns about inflation and a more aggressive Fed. That suggests that wage growth may accelerate soon. The Dow tumbled 666 points when last month's jobs report landed. Some economists note, for example, that freezing temperatures that month might have kept many lower-paid workers off the job by shutting down construction sites and reducing retail and restaurant business. Financial services gained 28,000, the biggest increase since 2005.
USA markets closed higher on Thursday after President Donald Trump appeared to soften his stance on heavy import tariffs on steel and aluminum.
The Trade Partnership, a consulting firm, estimates that the tariffs could eliminate 145,000 jobs. Still, the administration has opened the door to so many possible exemptions from the tariffs that an accurate estimate of the impact on jobs is all but impossible. He is now offering software developers 20 percent more in salary than he did just two years ago.
Recommended News
-
10 March 2018Dawood aide in CBI net
Takla was recently arrested from New Delhi's Indira Gandhi International Airport by the CBI after he arrived from Dubai. Farooq was produced before special TADA judge G A Sanap and sent to police custody till March 19.
10 March 2018Trump agreed to meet Kim because he is North Korea's…
North Korea has long protested the military manoeuvrs south of the divided Korean Peninsula as a rehearsal for invading the North. It would be all the more remarkable given the history of insults, threats and challenges exchanged by the two leaders.Paul J. Sekhri Sells 4622 Shares of Veeva Systems Inc (VEEV) Stock
Institute For Wealth Management Llc bought 16,491 shares as the company's stock declined 11.04% while stock markets rallied. The lowest price the stock reached in the last trading day was $77.07 and compares with the $43.94 52-week low. -
10 March 2018Southwest announces seasonal nonstop flights from Indianapolis to Cancun
The airport saw a 4.1 percent increase in total passengers between 2016 and 2017 and a 52 percent increase between 2007 and 2017. Southwest has one of its largest hubs at Hobby, where it opened a new global terminal in October 2015.FY2018 EPS Estimates for Dermira Inc Lowered by Analyst (DERM)
On Thursday, February 1 Cohen David E sold $17,322 worth of Dermira , Inc. (NASDAQ:DERM) on Tuesday, July 25 with "Buy" rating. Its minimum price target estimates has been figured out at $15 while the maximum price target forecast is established at $48.
10 March 2018US's NRA sues over age limit for guns bill
It also creates a so-called guardian programme enabling some teachers and other school employees to carry guns. Hours after Scott signed the bill into law, the NRA filed a federal lawsuit challenging the legislation. -
Discovery Communications Inc. (DISCK) Position Raised by Teacher Retirement System of Texas
BidaskClub raised Discovery Communications from a "strong sell" rating to a "sell" rating in a report on Wednesday, December 6th. Creative Planning bought a new stake in shares of Discovery Communications during the 4th quarter valued at about $207,000.
10 March 2018Wait, what?! Duchess Camilla, 70, is apparently "pregnant"
The message of Metro Online was quickly deleted and corrected, but one thing is for sure, it will be a lot of laughs, the Canvas. This new royal baby should be born in the month of April, just before the wedding of prince Harry and Meghan Markle.
10 March 2018Hyderabad: Heavy police security in place
Police denied permission to the TJAC for the march, which is also being supported by Left parties and various other organisations. He requested the general public to take alternative routes to reach their destinations. -
10 March 2018Nearly 155000 Hyundai Sonatas recalled because air bags may not inflate
The automaker is still trying to figure out how to fix the problem , though it expects the recall to begin on April 20. Once a fix is developed, owners will be notified to bring their vehicles into dealers for a free inspection and fix.Stocks To Watch This Week: KBR, Inc. (KBR), NanoString Technologies, Inc. (NSTG)
It turned negative, as 12 investors sold NSTG shares while 17 reduced holdings. 28 funds opened positions while 72 raised stakes. Nomura Asset Management Company Ltd increased American Wtr Wks Co Inc New (AWK) stake by 718.09% reported in 2017Q3 SEC filing.Intuitive Surgical, Inc. (ISRG) Director Sells $420010.00 in Stock
Advisors Capital Management LLC acquired a new stake in shares of Intuitive Surgical during the 3rd quarter worth about $209,000. It is flat, as 42 investors sold FFIV shares while 168 reduced holdings. only 32 funds opened positions while 144 raised stakes.
/cdn.vox-cdn.com/uploads/chorus_image/image/58939869/928216372.jpg.0.jpg)