US STOCKS-Gains in energy, financial stocks boost Wall Street

miércoles 3 de agosto de 2016 12:47 GYT
 

* Oil prices rise more than 3 pct

* 179,000 private sector jobs added in July vs est. 170,000

* Bank shares drive S&P 500

* Indexes up: Dow 0.12 pct, S&P 0.12 pct, Nasdaq 0.11 pct (Updates to early afternoon)

By Yashaswini Swamynathan

Aug 3 (Reuters) - Wall Street was higher on Wednesday after a sharp rise in oil prices boosted energy shares, while robust jobs data helped financial stocks.

Data showed the U.S. private sector added 179,000 jobs in July, beating estimates of 170,000. The ADP national employment report is seen as a precursor to the more comprehensive jobs data on Friday.

If the labor market is able to build on its recent strength, it could make the case for the Federal Reserve to raise interest rates later this year.

"I think any kind of strength in the overall economy does help the financials because it increases the prospects of the Fed being able to raise interest rates," said Robert Pavlik, chief market strategist at Boston Private Wealth in New York.   Continuación...