Trade Resources Economy US Stocks Opened Higher After Government Data Said The US Economy Added 175,000 Jobs

US Stocks Opened Higher After Government Data Said The US Economy Added 175,000 Jobs

US stocks opened higher after government data said the US economy added 175,000 jobs in May.

Ten minutes into trade, the Dow Jones Industrial Average was up 49.87 points, or 0.33 per cent, to 15,090.49

The broad-based S&P 500 put on 4.95, or 0.31 per cent, to 1627.51, while the tech-rich Nasdaq Composite Index added 6.6, 0.19 per cent, to 3430.65.

The May job figures comes amid intense debate on when the Federal Reserve will pull back on its aggressive bond-buying program.

Briefing.com analyst Patrick O'Hare said the jobs report "reflects improvement in the economy, but not so much improvement as to suggest the Fed will alter its policy course".

The Fed has said it would shift policy if unemployment drops to 6.5 per cent. Friday's report showed unemployment inched up 0.1 per cent to 7.6 per cent.

Source: http://www.theaustralian.com.au/business/markets/us-stocks-rise-on-jobs-report/story-e6frg91o-1226659998203
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