leadf
logo-loader

US stocks soar on better non-farm payroll data

wall_street350_554cbde9e0837.jpg

US stocks made hefty gains in early trading today after better than expected non-farm payroll figures.

Today’s data showed a rebound in April to 223,000 jobs created from 126,000 in March.

Expectations had been that it would climb as high as 228,000 but the improvement is a sign that last month was a one-off.

Dow Jones Industrial Average rocketed 258 points higher to 18,182, the broader S&P 500 gained 22 points and the tech-heavy Nasdaq made a 50 point gain.

McDonalds’ global sales declined 0.6% but this was much better than expected. 

An uptick of sales in Europe helped to mitigate the decline in the US. Shares climbed 1.4% to US$98.

Meanwhile, Microsoft finally announced today that it has no plans to make a bid for customer relations expert Salesforce.

The company said it expects earnings will triple over the next three years on the back of new projects including hololens.  Shares rose 2.5% to US$47.

Energy drink giant Monster failed to meet expectations as revenues and earnings per share were both way off forecasts though it is planning a collaboration with Coca-Cola. Shares dropped 6.3% to US$134

To broker news and consultancy firm Mercer was upgraded by Macquarie to ‘outperform’ from ‘neutral’. Shares climbed 1.5% to US$14.

Tech company Nvidia fell out of favour with Roth Capital as it downgraded the company’s stock to ‘neutral’ from ‘buy’. Shares eased 4.8% to US$21.

In the UK, the general election sent shockwaves through the market as the Conservatives won an unlikely majority. 

British Gas owner Centrica led the way higher, gaining 7% to 275p.



Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. 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...

FOR OUR FULL DISCLAIMER CLICK HERE

Water Tower Research President talks Energy and how Capstone Turbine is key...

Water Tower Research Co-Founder and President Shawn Severson joined Steve Darling from Proactive to share some insight about the Energy sector and how it is being viewed by users. Severson also told Proactive about Capstone Turbine and some things investors need to watch for from the company...

12 minutes ago

2 min read