Newsletter
Weather
Community
English home Forum Photo Gallery Features Newsletter Archive   About US Help Site Map
China
World
Opinion
Business
Sci-Edu
Culture/Life
Sports
Photos
 Services
- Newsletter
- Online Community
- China Biz Info
- News Archive
- Feedback
- Voices of Readers
- Weather Forecast
 RSS Feeds
- China 
- Business 
- World 
- Sci-Edu 
- Culture/Life 
- Sports 
- Photos 
- Most Popular 
- FM Briefings 
 Search
 About China
- China at a glance
- China in brief 2004
- Chinese history
- Constitution
- Laws & regulations
- CPC & state organs
- Ethnic minorities
- Selected Works of Deng Xiaoping

Home >> Business
UPDATED: 10:47, August 05, 2006
U.S. stocks open higher on sluggish job growth
font size    

U.S. stocks opened higher on Friday with weaker-than-expected job growth.

In the early exchanges, the Dow Jones Industrial Average climbed 77 to 11,320. The Standard & Poor's 500 index was up 9 to 1,289 and the Nasdaq Composite rose 19.93 to 2,112.27.

The Labor Department said on Friday that U.S. nonfarm (manufacturing or service industries) payrolls rose by 113,000 in July after a revised 124,000 gain in June, well beyond economists' expectations of around 143,000 payroll gains in July.

Economists have viewed the nonfarm payroll report of July as a critical document which could help predict whether or not the Fed will raise rates again on Aug 8.

The gain in payrolls is in line with the average job growth of 112,000 in the second quarter, which is a slower trend than the 176,000 job pace in the first three months of the year.

The weak labor market raised hopes that the Federal Reserve will conclude that it does not have to raise interest rates next week.

Source: Xinhua


Comments on the story Comment on the story Recommend to friends Tell a friend Print friendly Version Print friendly format Save to disk Save this


   Recommendation
- Text Version
- RSS Feeds
- China Forum
- Newsletter
- People's Comment
- Most Popular
 Related News
- U.S. stocks rally for second session, Dow above 11,000

- US stocks end higher as jobs growth tops forecasts

Dic

Manufacturers, Exporters, Wholesalers - Global trade starts here.
Copyright by People's Daily Online, all rights reserved