Midday Market Update
U.S. Market
Stocks rallied today after an upbeat employment report.
The U.S. economy added 287,000 in June, a sharp rebound from May’s disappointing results and well above economist expectations. The unemployment rate rose to 4.9% from 4.7% in the previous month as the size of the workforce expanded.
At midday the Dow, S&P 500 and Nasdaq were 1.1%, 1.2% and 1.4% respectively.
Stocks on the Move
There was limited corporate news this morning.
Foreign Markets
European markets were higher today. The FTSE 100, Paris CAC and Germany’s DAX were up 0.9%, 1.8% and 2.2% respectively.
Asian shares were lower. The Shanghai Composite was down 0.6%, the Hang Seng was off 0.7% while the Nikkei 225 slipped 1.1%.