Stocktube video
10/02/2011

David Fuller of fullermoney.com talks about investment opportunities in the nuclear age

View full size
Proactiveinvestors recommends
Pdf

US Stocks Rally As Job Numbers Calms Recession Fears

3rd Sep 2010, 8:47 pm
US Stocks Rally As Job Numbers Calms Recession Fears

US stock markets rallied this afternoon and is poised to finish the week on higher ground after better than expected job numbers.


 It was announced that the private sector added 67,000 jobs in July, beating the expected 40,000.  Nonfarm payrolls declined 54,000 compared to the expected decline of 90,000.  Unemployment edged slightly higher to 9.6%.   


Recession fears has plagued the markets for the last month but recent improvement in the housing market suggests the US economy may be able to fend off a recession.


A report released yesterday by the National Association of Realtors showed that Pending Home Sales Index  unexpectedly rose 5.2% for July. A group of economists surveyed by Bloomberg News expected the figure to be a decline of 1%. 


The S&P 500, Dow Jones, and Nasdaq indexes edged upwards by 1%,  0.97%, and 1.26%, respectively, minutes away from market close.


The US dollar index, which tracks the performance of the US dollar against a basket of six other currencies, declined 0.492%.


Ulta Salon, Cosmetics & Fragrance (NASDAQ:ULTA) shares rose 17% after it announced Q2 profits of 22 cents per share, beating estimate forecasts by 4 cents.  


Finisar (NYSE:SKS),a provider of optical subsystems for LAN networks,  rallied 15.4% to trade at $15.66 after Credit Suisse raised its price target for the company to $20. 


Campbell Soup Company (NYSE:CPB) declined 3.3% despite posting better than expected Q4 profits. 


Ferrellgas Partners (NYSE: FGP), Saks (NYSE:SKS), and Walter Energy (NYSE:WLT) also declined, retreating 3.3%, 2.9%, and 2.8%, respectively, on US markets.

No investment advice

The Company is a publisher and is not registered with or authorised by the Financial Services Authority (FSA). You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.