US STOCKS-Wall St rallies after upbeat employment report

viernes 4 de marzo de 2016 16:40 GYT
 

* February U.S. nonfarm payrolls increase 242,000
    * HP Enterprise up after strong results
    * Indexes up: Dow 0.35 pct, S&P 0.40 pct, Nasdaq 0.36 pct

 (Updates to afternoon trading)
    By Noel Randewich
    March 4 (Reuters) - Wall Street rallied toward its fourth
consecutive gain on Friday after employment data reduced
investors' worries about a sluggish economy without bolstering
fears of future interest rate hikes.
    For the first time since early January, the Dow Jones
industrial average rose above the 17,000 mark and the S&P 500
surpassed 2,000, moves that some traders see as psychologically
significant. 
    The rally followed a report that nonfarm payrolls increased
by 242,000 jobs last month. However, lower wages and hours
worked kept a lid on inflation, a key factor in the Federal
Reserve's decision to raise U.S. interest rates. 
    "This number shows the economy is strong and the Fed's got
time; it doesn't have to run off the sidelines and get involved
in raising rates," said John Brady, managing director at R.J.
O'Brien & Associates in Chicago.
    The Fed meets next on March 15-16. Traders still see the
odds overwhelmingly against a rate hike this month. 
    The S&P was on track for its fourth consecutive increase. 
Mostly steady gains in recent weeks have left the index down 2
percent in 2016 after the worst January since 2009.        
    At 2:36 p.m. (1936 GMT), the Dow Jones industrial average
 was up 0.35 percent at 17,003.38 and the S&P 500 
had gained 0.4 percent to 2,001.35.
     The Nasdaq Composite added 0.36 percent to
4,724.44.
    Eight of the 10 S&P sectors were higher, led by a 1.14 
percent rise in the energy sector. 
    Apple rose up 1.38 percent, the strongest positive
influence on the S&P 500.
    Shares of Hewlett Packard Enterprise jumped 14.33
percent after the company reported better-than-expected results.
 
    Broadcom rose 6.75 percent after the chipmaker
reported higher-than-expected profits. 
    H & R Block fell 16.5 percent after the tax preparer
reported a bigger-than-expected quarterly loss. 
    Carmike Cinemas jumped 16.5 percent after AMC
Entertainment said it would buy the theater chain for
$1.1 billion, including debt. AMC rose 4.4 percent. 
    Advancing issues outnumbered decliners on the NYSE by 2,002
to 990. On the Nasdaq, 1,810 issues rose and 977 fell.
    The S&P 500 index showed 16 new 52-week highs and one new
low, while the Nasdaq recorded 31 new highs and 23 lows.

 (Additional reporting by Abhiram Nandakumar in Bengaluru;
Editing by James Dalgleish)