U.S. equities climb on better than expected jobs report

Source: Dukascopy Bank SA
U.S. equities edged higher on Wednesday, as report showed companies hired more workers than expected and the Fed said the world's largest economy is expanding. The S&P 500 Index climbed 0.1% to 1,541.46. Five out of ten groups in the index edged higher. Big Lots Inc. jumped more than 6% to close at $35.97, as the Columbus-grounded retailer's report showed improving sales in its stores in the U.S. and Canada. Big lots forecasts that its full year earnings per share will be somewhere in between $3.05 and $3.25, beating the analysts' estimates. Furthermore, Freeport-McMoRan Copper & Gold advanced 4.1% as its stock was raised from neutral to buy at Bank of America by Merrill Lynch. United States Steel Corporation rallied 4% to pace gains in basic materials that were 1.2% up. Alongside to that, Staples Inc, the office supplier, dropped 7.2%, as investors reacted on its lower-than-expected forecast for earnings in 2013.

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Thu, 07 Mar 2013 12:45:03 GMT

Wall Street rises on U.S. job report on Wednesday

U.S. shares continued their rally during Wednesday session, as the U.S. manufacturing sector data stayed steady and surprisingly strong gains in the U.S. private employment brought optimism back to the markets. The Dow Jones Industrial average added 0.41% to 14,311.6, extending its record-breaking run, the S&P 500 rose 0.24% to 1,543.41 and the Nasdaq Composite went up 0.01% to 3,224.6.

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