Skip navigation
Stocks Video Gallery
Investors should focus on companies that ride on demand-growth in emerging markets, said Daphne Roth, Asia head of equit...
The Hang Seng Index could hit 24,000 points in the next 2-3 weeks, says Vicks Poon, head of investment advisory at Fubon...
China has already overtaken the U.S. as the world's No. 1 car market in units sold a year in 2009. Michael Dunne, VP of ...
Peng Wensheng, director & head of China research at Barclays Capital, sees the yuan appreciating 5% against the dollar b...
CNBC's Larry Kudlow gives his final thoughts of the evening.


Current DateTime: 11:58:46 16 Nov 2009
LinksList Documentid: 33482595

Current DateTime: 11:58:46 16 Nov 2009
LinksList Documentid: 24355697

FEATURED QUIZZES


Current DateTime: 11:58:46 16 Nov 2009
LinksList Documentid: 33793611
  • How Much Do You Know About Green?

      Green has become part of our everyday lives. Green is everywhere-- energy, clothing, food, housing, transportation. It's a big business and a global business.

  • The Billionaire BFF's

      Philanthropists. Bridge partners. Hockey players. Which responses are based on facts from Buffett's and Gates' real lives?

  • The Many Myths of Coca-Cola

      Can you tell which statements are true, and which ones are just rumors?


Current DateTime: 11:58:46 16 Nov 2009
LinksList Documentid: 24890560
  • Winterizing Your Portfolio

      If 2009 was the winter of our discontent, will 2010 be a winter wonderland for investors? A lot depends on the recovery—or lack thereof.

  • Investor's Guide to Real Estate

      Some even say the long-awaited recovery is here. Regardless, buyers and sellers alike can profit from our guide.

  • Alternative Investing

      Stocks and bonds? Sure. But it's a big world out there for investors.

powered by digg
Wall Street Cheers April Jobs Report
By: CNBC.com | 02 May 2008 | 10:02 AM ET
Text Size

Stocks shot out of the gate Friday after a better-than-expected April jobs report.

The Dow industrials gained more than 100 points in the first few minutes of trading. The Nasdaq and S&P 500 also advanced.

Nonfarm payrolls declined by 20,000 jobs last month, but that was far better than the projected loss of 75,000 jobs. The unemployment rate fell to 5 percent, also better than expected. A separate report showed  factory orders rose 1.4 percent in March.

Major U.S. Indexes
Loading...
Loading...
Loading...

"This [payrolls number] is exactly what you want to see to continue the rally that we have started to see over the last couple of weeks," Jack Bouroudjian, of Brewer Investment Group, told CNBC. "Keep an eye on the dollar -- that will be the key over the next couple of months -- that will determine if this rally has legs or not," he said.

The dollar rose against the euro to its highest level in two months following the report; the euro dropped as low as $1.5365. Crude oil [US@CL.1  Loading...      ()   ] was trading around $113 a barrel.

Minutes before the April jobs report was released, the Federal Reserve announced that it was expanding the size of its term-auction facility to help ease persistent strains in credit markets.

Financials were mostly higher, with a few exceptions: JPMorgan [JPM  Loading...      ()   ], Bear Stearns [BSC  Loading...      ()   ] and Deutsche Bank [DB  Loading...      ()   ] all declined.

Financial companies face a 40 percent decline in earnings in the second quarter, according to Michael Thompson, managing director of Thomson Reuters.

Airlines retreated after a meteoric rally recently. Among notable decliners were AMR [AMR  Loading...      ()   ], parent of American, and Continental [CAL  Loading...      ()   ].

Chevron [CVX  Loading...      ()   ] reported its earnings rose 10 percent to $5.17 billion as record oil prices outweighed weak profits from gasoline production.

A day earlier, ExxonMobil [XOM  Loading...      ()   ] reported its net income rose 17 percent to $10.9 billion, but fell short of expectations due to squeezed margins.

In tech land, investors are anticipating a definitive move from Microsoft [MSFT  Loading...      ()   ] regarding its attempt to buy Yahoo [YHOO  Loading...      ()   ] .

Microsoft is leaning to making a hostile bid, but Yahoo could also announce a partnership deal with Google [GOOG  Loading...      ()   ] as early as next week to fend off the takeover.

Nortel Networks [NT  Loading...      ()   ] posted a steeper-than-expected loss of $138 million as results were hurt by charges for restructuring, litigation and other items. Still, the telecom-equipment maker said it expects to meet its full-year targets.

Send comments to .

© 2009 CNBC.com
Tools:
Print EmailAdd This share icon
  • digg share

CNBC HIGHLIGHTS

  • CNBC's Jim Goldman asks: Has the sun begun to set on Twitter? Data suggests its best days are over.
  • Everyone wanted a piece of Madoff's "Bullship"--the famous buoy sold for $7,500 at auction. You won't believe these prices.
  • De Loach Vineyards is selling its pinot noir the old fashioned way, helping to cut energy and transportation costs.
  • Why are the Chinese concerned about the progress of U.S. health care legislation?
  • Snoop Dogg
  • CNBC's Maria Bartiromo talks to rapper Snoop Dogg about brand identity in both business and music.
ADD COMMENTS
Remaining characters


Current DateTime: 04:09:30 16 Nov 2009
LinksList Documentid: 29778428

Current DateTime: 04:09:40 16 Nov 2009
LinksList Documentid: 29779196

Current DateTime: 07:02:14 16 Nov 2009
LinksList Documentid: 29779199

Current DateTime: 04:09:29 16 Nov 2009
LinksList Documentid: 29779198
  Data is a real-time snapshot  *Data is delayed at least 15 minutes
Global Business and Financial News, Stock Quotes, and Market Data and Analysis

© 2009 CNBC, Inc.  All Rights Reserved.
A Division of NBC Universal
Thomson ReutersThomson Reuters