Bloomberg (07/12)
-- U.S. stocks rose, halting a five-day slide for the Standard &
Poor’s 500 Index, as investors weighed better-than-forecast jobs growth
to gauge the strength of the economy and timing of Federal Reserve
stimulus cuts.
 The
S&P 500 gained 1.1 percent to 1,804.92 at 4 p.m. in New York. The
advance trimmed the index’s drop this week to less than 0.1 percent
after it had retreated each of the past four sessions.
The
U.S. jobless rate fell to 7 percent, showing progress in the labor
market that will help provide a spark for the U.S. economy. The S&P
500 had fallen for five straight days, its longest slump since
September, as improving economic data fueled concern the Federal Reserve
will reduce its $85 billion in monthly bond purchases meant to suppress
interest rates and bolster growth. The benchmark gauge of U.S. options
prices retreated today after eight straight gains, matching a record
streak.
The
203,000 increase in payrolls followed a revised 200,000 advance in
October, Labor Department figures showed today. The median forecast of
89 economists surveyed by Bloomberg called for a 185,000 advance. A
report Dec. 4 from the ADP Research Institute indicated companies
boosted payrolls in November by the most in a year.
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