Stocks rise after hiring surge; Dow misses 18,000
Source: AP-Excite
By KEN SWEET
NEW YORK (AP) — A strong jobs report boosted U.S. and European stocks Friday, and left the Dow Jones industrial average just short of the 18,000 mark.
The main focus in the markets was the monthly hiring numbers. The Labor Department said U.S. employers added 321,000 jobs last month, the biggest burst of hiring in nearly three years, while the unemployment rate remained steady at 5.8 percent.
Despite the good news, stock gains were restrained. Investors now expect that the robust jobs growth — and other signs the economy is accelerating — could lead the Federal Reserve to raise interest rates sooner than anticipated.
Banks, whose profit margins increase when interest rates rise, were among Friday's biggest gainers. Safety-focused utility stocks, which tend to perform poorly in an improving economy, were among the biggest decliners, along with energy companies, which were hurt once again by lower oil prices.
FULL story at link.
In this Wednesday, Oct. 8, 2014 photo, American flags fly in front of the New York Stock Exchange, in New York. A strong report on job creation pushed stock indexes higher Friday, Dec. 5, 2014, even though the figures may prompt the Federal Reserve to raise interest rates sooner than anticipated. The dollar rose as traders anticipated more robust growth in the U.S. (AP Photo/Mark Lennihan)
Read more: http://apnews.excite.com/article/20141205/financial_markets-b3be0ad808.html
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I still feel like a pawn in the game but things are great
