Better than expected jobs data helped stocks pare their losses, after a weak open this morning.
Private companies added 176,000 positions in June, according to the ADP National Employment Report. Economists were expecting a gain of 105,000 jobs.
Meanwhile, the Labor Department is reporting a drop of 14,000 in weekly jobless claims to a seasonally adjusted 374,000, marking a 6-week low.
Layoffs hit a 13 month low in June, according to consultants Challenger, Gray and Christmas.
Macy's (NYSE:M) and Costco (NASDAQ:COST) were among the many retailers which posted disappointing same-store sales last month, as concerns over jobs and the economy kept consumers from spending.
Tomorrow, we'll bring you the government non-farm payroll report. Economists are looking for a gain of 90,000 in June.
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.
Launch related slideshow:
Tuesday 6/18 Insider Buying Report: CTSH
Tuesday 6/18 Insider Buying Report: PAY, XLS
Monday 6/17 Insider Buying Report: VSTM, ACG
Daily Wrap: June 18, 2013
Chevron Signs Exploration Deal With Kurdish Government
Sprint Aims to Block Clearwire Deal in Court
Analyst Moves: PXD, KR, HAIN
New Analyst Coverage: LNKD, Q, TMUS
Analyst Moves: TEX, WMB, WETF
Tuesday Sector Leaders: Agriculture & Farm Products, Entertainment
Tuesday Sector Laggards: Precious Metals, Homebuilders
Monday Sector Leaders: Vehicle Manufacturers, General Contractors & Builders
Tuesday's ETF with Unusual Volume: IWX
Tuesday's ETF Movers: AXSL, GDXJ
EWH, UGE: Big ETF Outflows
Daily Dividend Report: FITB, IVR, AMTG, SUI, USB
Daily Dividend Report: SRE, LLY, AMAT, RL, PETM
Daily Dividend Report: CHK, SRC, KCAP, ROP, CPT
Jobless Claims Fall to New Five Year Low
US Employers Add 175k in May
Jobless Claims Fall By 11,000
Weekly Market Wrap: June 14, 2013
Weekly Market Wrap: June 7, 2013
Weekly Market Wrap: May 31, 2013
Week Ahead Market Report: June 17, 2013
Week Ahead Market Report: June 10, 2013
Week Ahead Market Report: June 3, 2013