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Dow, Nasdaq and S&P 500 finish higher After Report Shows Job Openings Increased In July

8th Sep 2010, 9:06 pm
Dow, Nasdaq and S&P 500 finish higher After Report Shows Job Openings Increased In July

US stock markets racked up gains after a US Labor Department report said that job openings increased by 178,000 to 3.04 million in July, a 6.2% increase from June.

The biggest increase in available employment came from the educational and health services sectors.

As of August, the unemployment rate stands at 9.6%.

Consumer credit decreased by $3.6 billion in July compared to a $1 billion decline in June, the Federal Reserve reported today. Economists expected a $4.7 billion decline, according to the median forecast in a Bloomberg survey.

Market moving economic numbers to be released tomorrow include jobless claims, the US international trade gap, and the crude oil inventory report.

The S&P 500, Dow Jones, and Nasdaq indexes advanced by 0.57%, 0.37%, and 0.85%, 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, retreated 0.297%.

Netezza (NYSE:NZ), a provider of data warehousing units, saw its shares rallying 12.7% this afternoon.

The NewYork Times (NYSE:EPE), advanced 8% on speculation that the iconic media company may be acquired. 

Veeco Instruments(NASDAQ:VECO), Cree (NASDAQ:CREE), and Silicon Laboratories (NASDAQ:SLAB) were some of the biggest decliners, retreating 9.24%, 8.17%, and 7.17%, respectively, on US markets.

Commodities

Crude oil futures advanced 0.48% to trade at $78.11 per barrel.

Gold futures declined 0.13% to trade at $1257.7 per ounce.  Silver and copper posted gains of 0.33% and 0.68%, respectively.

Canadian markets

The S&P/TSX index edged lower slightly by 0.41% to trade at the 12,099.36 level going into market close.

Five of eight Canadian sector indices posted losses.  The healthcare and telecom sectors declined the most, retreating 0.50% and 0.76%, respectively.  Energy also went into the red zone, declining 0.20%.  Metals and mining sector rose the most, posting a 1.03% gain.

Royal Bank of Canada (TSX: RY, NYSE:RY), Canadian Imperial Bank of Commerce (TSX: CM, NYSE:CM), Toronto-Dominion Bank (TSX:TD, NYSE:TD) all advanced due to a broad sector rally.  The respective companies gained 0.69%, 0.62%, and 0.92%.

Newmont Mining (TSX:NMC, NYSE:NEM), declined despite a broad rally in the mining sector.  The company retreated 1.41% on the Toronto Stock Exchange.

Other decliners include Barrick Gold (TSX:ABX , NYSE:ABX) and Potash Corp of Saskatchewan (TSE:POT, NYSE:POT) which declined 1.17% and 0.34%, respectively.

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