US STOCKS-Stellar jobs data helps Wall St recoup Brexit losses

viernes 8 de julio de 2016 11:10 GYT
 

* 287,000 jobs added in June; unemployment rises 4.9 pct

* Three major indexes on track to close week higher

* Indexes up: Dow 0.9 pct, S&P 1.08 pct, Nasdaq 1.22 pct (Adds details, comments, updates prices)

By Yashaswini Swamynathan

July 8 (Reuters) - Wall Street recovered all of its Brexit-sparked losses on Friday after data showed that the U.S. economy posted its largest job gains in eight months in June, strongly rebounding from dismal numbers in May.

The economy added 287,000 jobs in the public and private sectors in June, compared with the 175,000 expected by economists.

The robust numbers confirm that the May jobs data, which was revised to 11,000 from 38,000, was an aberration and not indicative of weakness in the labor market.

Unemployment in June rose to 4.9 percent, compared with the estimate of 4.8 percent. A reading below 5 percent indicates full employment.

The data, collected a week before Britain voted on its European Union membership, will feed into the U.S. Federal Reserve's plans on rate hikes but traders do not expect the central bank to move anytime soon.   Continuación...