This Day On The Street
Continue to site
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

Stock Market Today: Strong Jobs Numbers Cap Week of Healthy Economic Data

NEW YORK ( TheStreet) -- Markets are looking to gain Thursday, driven by stronger-than-expected nonfarm payrolls data, a falling unemployment rate and a narrowing international trade gap.

The U.S. added 288,000 nonfarm payroll jobs in June, according to the Bureau of Labor Statistics, exceeding analysts' estimates for a 215,000 increase. May numbers were also revised up to 224,000 from a previously reported 217,000. The unemployment rate fell to 6.1%. Economists expected the rate to remain steady at 6.3%.

The latest release paints a better-than-expected picture of the U.S. labor market. A day earlier, hopes were boosted after ADP data showed higher-than-expected payroll growth in the private employment sector, up 281,000 jobs in June from 180,000 in May and above economists' estimates of 205,000. The reading indicated companies had engaged in the most hiring in more than a year.

The U.S. international trade gap narrowed to $44.4 billion from $47.2 billion a month earlier. Economists had expected $45 billion.

Futures for the Dow Jones Industrial Average jumped 0.11% to 16,917, the S&P 500 gained 0.14% to 1,970.5, and the Nasdaq spiked 0.26% to 3,899.75.

No Big Moves For Markets as Wall Street Digests Data

July 3 Premarket Briefing: 10 Things You Should Know

Markets were little moved over Wednesday's session as Wall Street digested data on payrolls and factory orders. The Dow made moves higher, but is yet to hit the 17,000-level. However, as Wells Fargo analyst Scott L. Wren notes, this level is less important from a technical trading level and more of psychological significance.

European markets surged ahead of the European Central Bank's monetary policy meeting on Thursday. Economists expect the ECB to keep interest rates unchanged. However, Markit's Eurozone PMI measure dropped to 52.8 in June from 53.5 in May, marking a six-month low.

Lululemon (LULU - Get Report) shares are 3.6% higher before the bell after The Wall Street Journal reported the yogawear company is reportedly considering a buyout. 

American Apparel (APP) shares are gaining 9.6% to 91 cents after ousted CEO Dov Charney surrendered his stake and voting rights to firm Standard General. The American Apparel board had refused to negotiate with Charney in his attempts to regain control, but have showed willingness to speak with Standard General.

Paramount Group, one of the largest private real estate owners in the U.S., has hired Bank of America (BAC - Get Report) to discuss strategic moves, including a possible IPO, reports Reuters. The float could value the company as high as $15 billion.

U.S. markets will close at 1 p.m. EDT Thursday ahead of the Independence Day holiday Friday. Markets will remain closed for the public holiday and resume as normal Monday.

--Written by Keris Alison Lahiff in New York.

Yellen Says Financial Stability Shouldn't Depend on Where the Fed Sets Rates

How This Unloved Bull Market Continues to Smash Records

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
APP $0.01 -26.70%
BAC $14.77 0.00%
LULU $66.72 0.00%
AAPL $93.64 0.00%
FB $118.57 0.00%


Chart of I:DJI
DOW 17,891.16 +117.52 0.66%
S&P 500 2,081.43 +16.13 0.78%
NASDAQ 4,817.5940 +42.2360 0.88%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs