Stocks Inching Higher After Solid Jobs Report — Canadian Commentary

U.S. stocks were slightly positive Friday morning as traders assessed a relatively upbeat jobs report.

Concerns about the breakdown in trade relations between the U.S. and China continued to generate anxiety, but stocks are pushing ahead after a slow start at the opening bell.

The Dow Jones Industrial Average was up 1 point at 24,357, the S&P 500 added 7 poonts to 2,744 and the Nasdaq was up 41 points to 7628, reflecting strength among tech stocks.

JPMorgan denies reports it plans to buy into Deutsche Bank. JPM shares are up fractionally.

Biogen’s stock skyorocked after positive results from a study of its Alzheimer’s treatment.

Germany’s Constitutional Court rejected complaints that raiding the offices of Volkswagen AG’s lawyer Jones Day as part of an investigation into the diesel-emissions scandal violated constitutional law.

Employment in the U.S. increased by more than expected in the month of June, according to a report released by the Labor Department on Friday.

The report said non-farm payroll employment jumped by 213,000 jobs in June after surging up by an upwardly revised 244,000 jobs in May. However, the unemployment rate rose to 4.0 percent in June from 3.8 percent in May, as temporary school jobs ended for the summer.

Traders also weighed yesterday afternoon’s Federal Reserve minutes.

“Negative risks to economy from U.S. trade policy have intensified,” the minutes showed.

Still, “The information reviewed for the June 12-13 meeting indicated that labor market conditions continued to strengthen in recent months, and that real gross domestic product (GDP) appeared to be rising at a solid rate in the first half of the year.”

by RTTNews Staff Writer

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