Stocks rise on Wall Street, despite dismal jobs report | National News
In this photo provided by the New York Stock Exchange, traders gather at a post on the floor, Thursday, Feb. 4, 2021. Stocks moved higher in afternoon trading on Thursday, helped by strong company earnings as well as optimism that Washington can reach a deal for another round of fiscal stimulus for the millions of Americans who need it.
Currency traders watch monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Friday, Feb. 5, 2021. Asian shares rose Friday, echoing a rally on Wall Street, as hopes grew for a gradual global economic recovery from the damage of the coronavirus pandemic.
A currency trader watches monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Friday, Feb. 5, 2021. Asian shares rose Friday, echoing a rally on Wall Street, as hopes grew for a gradual global economic recovery from the damage of the coronavirus pandemic.
Currency traders work at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Friday, Feb. 5, 2021. Asian shares rose Friday, echoing a rally on Wall Street, as hopes grew for a gradual global economic recovery from the damage of the coronavirus pandemic.
FILE – Pedestrians pass the New York Stock Exchange, Wednesday, Jan. 27, 2021, in New York. Stocks are opening higher on Wall Street, keeping the S&P 500 on track for its biggest weekly gain since November. The benchmark index was up 0.4% early Friday, Feb. 5.
In this photo provided by the New York Stock Exchange, traders work on the floor, Friday, Feb. 5, 2021. Stocks were moving higher in afternoon trading on Friday, despite the fact that Wall Street got a dismal jobs report for January that showed the U.S. economy remaining in dire straits due to the pandemic.
In this photo provided by the New York Stock Exchange, trader Thomas Lee, left, works on the floor, Friday, Feb. 5, 2021. Stocks were moving higher in afternoon trading on Friday, despite the fact that Wall Street got a dismal jobs report for January that showed the U.S. economy remaining in dire straits due to the pandemic.
NEW YORK (AP) — Stocks were moving higher in afternoon trading on Friday, despite the fact that Wall Street got a dismal jobs report for January that showed the U.S. economy remaining in dire straits due to the pandemic.
Investors continue to hope that more help for the economy is on the way from Washington. Overnight the Senate narrowly passed a measure that will fast-track aid.
The S&P 500 index was up 0.4% as of 12:05 p.m. Eastern. It’s on track for a weekly gain of more than 4%, which would be its biggest since November. The Dow Jones Industrial Average rose, 96 points, or 0.3%, to 31,152 points. The Nasdaq composite rose 0.4%.
The Department of Labor said that employers added only 49,000 jobs in the month of January, far below economists’ forecasts. The disappointing report came as much of the country remains saturated with coronavirus cases, which caused some jurisdictions like California or New York to partially shut down again last month. A report on Thursday showed the number of Americans who filed for unemployment benefits remained well above historic norms.
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