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Breaking Stock Market and Financial News

Treasury yields rise after U.S. adds 209,000 jobs in July, wages match estimates

MarketWatch Market Pulse - Fri, 08/04/2017 - 08:44

U.S. Treasury yields rose modestly on Friday after a the key jobs report came in better than expected. The 10-year Treasury yield rose to 2.248%, the 2-year yield , the most sensitive to shifting rate expectations, was at 1.367% , while the 30-year bond yield stood at 2.820% . Bond prices and yields move inversely. The labor-market report added an impressive 209,000 jobs in July. Over the past two months, the U.S. has added nearly 450,000 new jobs, pushing the unemployment rate down to a 16-year low of 4.3%. A healthy jobs market is seen as adding support to the Federal Reserve's push to lift interest rates and unwind a $4.5 trillion asset portfolio. Higher rates weigh on bond prices, nudging yields higher. One point that Treasury traders might view as less than stellar, average-hourly wages matched economists' expectations polled by MarketWatch for a rise of 0.3%. Rising wages are viewed as a proxy for inflation, which bond investors have mostly viewed as sluggish over the past several months. Overall, economists had expected 180,000 jobs to have been added to the U.S. economy in July.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Dollar gains after stronger-than-expected jobs report

MarketWatch Market Pulse - Fri, 08/04/2017 - 08:42

The dollar on Friday gained against top rivals after the monthly U.S. jobs report topped expectations. The buck bought 110.56 Japanese yen, up from 110.09 yen just before the data on July nonfarm payrolls. The pound was down at $1.3101 after holding above $1.3140 ahead of the release, while the euro traded at $1.1848, pulling back from around $1.1870.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Bank stocks jump after jobs data

MarketWatch Market Pulse - Fri, 08/04/2017 - 08:40

Banks stock jumped in premarket trade Friday, after the release of better-than-expected July jobs data. The SPDR Financial Select Sector ETF climbed 0.6% ahead of the open, after being unchanged just prior to the jobs data. Shares of Bank of America Corp. rallied 1% ahead of the open, after being up just 0.3% before the data, while the data helped push J.P. Morgan Chase & Co.'s stock up 0.8% from up 0.2%. Elsewhere, shares of Citigroup Inc. went to up 0.9% from up less than 0.1%, Goldman Sachs Group Inc.'s stock was up 0.7% after a pre-data gain of 0.1% and Well Fargo & Co. share went to a 0.8% gain from a 0.1% rise. The economy added 209,000 nonfarm jobs in July, beating expectations of 175,000.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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