This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Asia Stocks Rise After Strong US Jobs Report

By PAMELA SAMPSON

BANGKOK (AP) â¿¿ A strong U.S. jobs report helped propel Asian stock markets higher on Monday.

The U.S. government reported that the unemployment rate fell to 7.7 percent from 7.9 percent in January and that employers added far more jobs in February than expected, despite higher taxes and cuts in government spending.

The good news overshadowed a credit downgrade slapped on Italy by Fitch Ratings Agency on Friday, which said the country's inconclusive election that left no party in clear control of the government harmed the chances of Italy moving ahead with economic reforms.

"Sentiment was boosted by the better-than-expected US jobs report on Friday, but downgrade of Italy by Fitch over the weekend has casted some doubts ahead," analysts at Credit Agricole CIB in Hong Kong said in an email commentary.

Japan's Nikkei 225 index marched higher as the yen slid against the dollar. The Nikkei rose 0.9 percent to 12,389.06. Hong Kong's Hang Seng advanced 0.6 percent to 23,235.52 and Australia's S&P/ASX 200 added 0.4 percent to 5,141.70.

On Friday, both the Dow Jones industrial average and the Standard & Poor's 500 index rose for a sixth straight day on the heels of the positive jobs report. The Dow gained 0.5 percent to 14,397.07. The S&P 500 rose 0.5 percent to 1,551.18. The Nasdaq rose 0.4 percent to 3,244.37.

Benchmark oil for April delivery was down 23 cents to $91.72 per barrel in electronic trading on the New York Mercantile Exchange. The contract rose 39 cents to finish at $91.95 per barrel on the Nymex on Friday.

In currencies, the euro rose to $1.2995 from $1.2981 late Friday in New York. The dollar rose to 96.17 yen from 95.70 yen.

___

Follow Pamela Sampson on Twitter at http://twitter.com/pamelasamp

Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs