US STOCKS-Wall Street off to a solid start in April

viernes 1 de abril de 2016 16:30 GYT
 

* March payrolls data better than expected

* Regeneron up after eczema treatment found effective

* S&P 500 up 13 pct in past seven weeks

* Indexes close up: Dow 0.61 pct, S&P 0.63 pct, Nasdaq 0.92 pct (Updates to afternoon)

By Noel Randewich

April 1 (Reuters) - Wall Street extended a seven-week rally on Friday after upbeat U.S. jobs and factory data hinted at stronger corporate earnings without increasing concerns of potential U.S. interest rate hikes.

The Labor Department's report showed solid gains in nonfarm payrolls in March while the unemployment rate rose to 5 percent from an eight-year low of 4.9 percent as more Americans entered the labor force.

Along with another report showing the U.S. manufacturing sector resumed growth in March, the employment data suggested the economy is not growing fast enough to increase concerns about inflation.

"It's a very solid number overall, but I don't think it changes anything as far as the Fed's outlook," said Jon Adams, a senior investment strategist and portfolio manager at BMO in Chicago.   Continuación...