Stocks React To Positive Job Numbers – Acadiana Business Index
Stocks rose after the U.S. economy added more jobs than expected last month. Mark Lasseigne has your stock market report on today's Acadiana Business Index.
- The Dow Jones Industrial Average rallied 157 points to 12,862, its best level in four years.
- The Nasdaq Composite added 46 points, now up 12% in 2012 and at its highest level since 2000.
- While the S&P 500 was up 19 points today, and up 6.7% this year, its best start since 1989. All 10 of the S&P 500's sectors were higher.
- The U.S. Labor Department said January data showed payrolls rose 243,000 last month, marking the biggest gain since April. The jobless rate fell to 8.3% from 8.5%, the lowest it has been since February 2009.
- In corporate news, Tyson Foods rallied 5.2% after the meat processor reported earnings and revenue that topped expectations, boosted by a return to profitability in its chicken business.
- And, Weyerhaeuser, one of the nation's largest wood-product companies, posted results that beat analysts' expectations. Shares rose 5.6%.
- Oil prices settled at $97.84 a barrel.
- And gold closed at $1,739 an ounce.
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