Jobs Report Causes Markets to Rally on Friday (WMT,TIVO)
The much awaited payrolls report was released on Friday, sending stocks higher by the end of the day. Payrolls rose more than originally forecast but not enough to push the Fed into making a decision about scaling back their bond purchases. The unemployment rate reportedly rose to 7.6%. The US dollar traded higher against rivals and oil prices topped $96 a barrel at the close. Techs including Apple (AAPL) and Pandora (P) also rallied today while Cliffs Natural Resources (CLF) and Quicksilver (ZQK) edged lower.Wal-Mart (WMT) announced a plan to repurchase $15 billion worth of shares after facing criticism over corruption and safety.
Word on the Street
- Jobs report makes many wonder when the Fed will scale back its current program.
- Stocks rally to give Wall Street its best day in almost three weeks.
- Pandora (P) tries to rebound from earlier this week.
- TiVo (TIVO) plunges after settling its dispute for $490 million.
- Retail sales rise in May, spending remains moderate.
- Shares of Krispy Kreme Doughnuts (KKD) Are Piping Hot.
Published on Jun 7, 2013By InvestorGuide Staff