- U.S. stocks rose on Friday boosted by better-than-expected job growth in March, which eased concerns of a domestic slowdown, and hopes that the United States and China would resolve their trade dispute.
U.S. employment growth in March accelerated from a 17-month low as milder weather drove hiring in sectors like construction, further allaying fears of an economic slowdown in the first quarter. However, wage increases slowed in March leaving the data broadly supportive of the Federal Reserve’s decision last month to suspend its three-year campaign to tighten monetary policy.
At 1:01 p.m. ET the Dow Jones Industrial Average was up 23.54 points, or 0.09%, at 26,408.17, the S&P 500 was up 10.13 points, or 0.35%, at 2,889.52 and the Nasdaq Composite was up 39.99 points, or 0.51%, at 7,931.77.Investors will focus on falling profits and lower interest rates as next week major U.S. banks kick off what analysts expect to be the first quarter of contracting corporate earnings since 2016.
Capping gains on the Dow Industrials was Dow Inc, which dropped 5.2% after J.P. Morgan started covering the company, which was spun-off from DowDuPont Inc, with an “underweight” rating.
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