Nonfarm payrolls fell by 11,000 jobs in November, much fewer than the estimate that called for a 125,000 decline. The unemployment rate fell from 10.2% to 10.0%, compared to the consensus forecast, which called for the rate to remain unchanged. Average hourly earnings rose 0.1% and the average workweek rose to 33.2 hours from 33.0 hours. More from Bloomberg...
Factory orders unexpectedly increased in October, rising 0.6%, Economists had expected the orders to remain flat. Excluding transportation, orders rose 0.5%.
The Dow Jones Industrial Average rose 22 points (0.2%) to close at 10,388, the S&P 500 Index added 6 points (0.5%) to 1,106, and the Nasdaq Composite climbed 21 points (1.0%) to 2,194. Crude oil was $0.99 lower at $75.47 per barrel, and the Bloomberg gold spot price decreased $45.60 to $1,162.00 per ounce. For the week, the DJIA gained 0.8%, while the S&P 500 Index was up 1.3%, and the Nasdaq Composite increased 2.6%.
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