New York – Wall Street ended the first week of the third quarter with a respectable gain today, shaking off early losses as investors found signs of strength in the government’s June employment report.
For the most part, investors were relieved to hear that the unemployment rate held steady at 4.5 percent in June for the third straight month, as expected, and that 132,000 jobs were added – fewer than in May, but slightly higher than the average forecast.
The Labor Department data also showed that a larger number of jobs were created in April and May than previously thought, and that June’s average work week ticked up 0.1 percent.
According to preliminary calculations, the Dow Jones industrials rose 45.84, or 0.34 percent, to 13,611.68. The Standard & Poor’s 500 index gained 5.07, or 0.33 percent, to 1,530.47, while the Nasdaq composite index rose 9.86, or 0.37 percent, to 2,666.51.
