U.S. stocks traded higher this morning, with the Nasdaq Composite gaining more than 200 points on Friday.
Following the market opening Friday, the Dow traded up 0.20% to 49,695.04 while the NASDAQ gained 0.82% to 26,016.59. The S&P 500 also rose, gaining, 0.50% to 7,373.60.
Leading and Lagging Sectors
Information technology shares jumped by 1.5% on Friday.
In trading on Friday, energy stocks fell by 0.7%.
Top Headline
U.S. nonfarm payrolls defied expectations in April, with total employment edging up by 115,000 jobs to comfortably beat the FactSet consensus estimate of a 65,000 rise. Despite the stronger-than-expected job growth, the unemployment rate remained unchanged at 4.3%.
On the inflation front, average hourly earnings for all employees on private nonfarm payrolls rose by 6 cents, or 0.2%, to $37.41, bringing the annual wage increase to 3.6%.
Equities Trading UP
- Phoenix Asia Holdings Ltd (NASDAQ:PHOE) shares shot up 128% to $43.50. The company recently announced a $1 billion stock acquisition agreement to acquire clinical-stage pharmaceutical firm ACEA …
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