US Stocks Rise on Strong Jobs Report
US stocks
New York - QNA
US stocks rose Friday, with the Nasdaq Composite Index setting a new closing record, as Wall Street cheered over the country's better-than-expected jobs report.
The Dow Jones Industrial Average jumped 186.55 points, or 0.94%, to 20,071.46.
The S&P 500 added 16.57 points, or 0.73%, to 2,297.42.
The Nasdaq Composite Index was up 30.57 points, or 0.54%, to 5,666.77.
US total nonfarm payroll employment increased by 227,000 in January, well above market consensus of 175,000, the Labor Department reported Friday. The unemployment rate was little changed at 4.8%.
In January, average hourly earnings for all employees on private nonfarm payrolls rose by 3 cents to $26.00, following a 6-cent increase in December. Over the year, average hourly earnings have risen by 2.5%.
Meanwhile, the Non-Manufacturing Index, which measures activity in the US service sector, registered 56.5% in January, missing market expectations of 57.0, the Institute for Supply Management (ISM) said in its monthly survey Friday.
For the week, the blue-chip Dow edged down 0.1%, while both the S&P 500 and the Nasdaq rose 0.1%.
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Dubai-based label ASMARAÏA just launched its pre-fall 2019 collection — and it’s all about cruelty-free, sustainable fashion with a festive edge. Checkmate The 15-piece collection features this checkered skirt-and-jacket ensemble that is giving us major “Clueless” vibes. Gold Rush ‘Tis the season to sparkle and this dazzling, floor-length gold skirt will do the trick. Take note of the chic black bow detail at the waist — it’s the ultimate party look. Feathered fashion The brand works with environmentally-friendly materials such as organic cotton, recycled polyester and faux fur, so you can be sure this feathered look doesn’t come at the cost of an animal’s life. Jewel Tones If you want to glisten like a polished jewel at your next festive function, this emerald-colored skirt is the perfect choice with its sequin details and shimmery overlay. Golden Girl Leopard print
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