Stock Futures Rise, Treasuries Drop After Private Jobs Data Beat Estimates
Sept. 3 (Bloomberg) -- Nouriel Roubini, chairman and co-founder of Roubini Global Economics LLC, talks about the outlook for the global economy and the possible impact of a double-dip recession or an increase in risk aversion on gold and currencies. He talks with Francine Lacqua in Cernobbio, Italy, on Bloomberg Television's "Countdown." (Source: Bloomberg)
Sept. 3 (Bloomberg) -- George Buckley, chief executive officer of 3M Co., talks about his company's growth strategy in Cernobbio, Italy. Buckley, speaking with Francine Lacqua on Bloomberg Television's "InsideTrack," also discusses his company's hiring practices and U.S. fiscal policy. (Source: Bloomberg)
Sept. 3 (Bloomberg) -- U.S. stock futures rallied and Treasuries tumbled after growth in private payrolls topped estimates, bolstering optimism the economic recovery will be sustained.
Futures on the Standard & Poor’s 500 Index climbed 0.8 percent to 1,098.3 at 8:32 a.m. in New York. The yield on the benchmark 10-year Treasury note rose 10 basis points to 2.72 percent.
Private payrolls that exclude government jobs increased 67,000, after a revised 107,000 increase in July that was more than initially estimated, Labor Department figures in Washington showed today. The median estimate of economists surveyed by Bloomberg News called for a gain of 40,000. Overall employment fell 54,000 for a second month and the unemployment rate rose to 9.6 percent as more people entered the labor force.
The S&P 500 is up 2.4 percent so far this week, poised to snap a three-week losing streak. The gauge still remains 10 percent below this year’s peak in April. Faster-than-forecast growth in manufacturing sent the index up 3 percent on Sept. 1, its biggest gain in almost two months.
Stocks climbed yesterday, extending the biggest rally in almost two months, after economic figures from retail sales to pending home sales helped boost confidence in the economic recovery.
Rate this Page