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Stocks rise for 6th week in a row

Saturday, November 07, 2015 - 01:19

The three major indexes posted higher weekly performances for the sixth week in a row, after posting their best monthly results in four years in October. Bobbi Rebell reports.

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Stocks closed out the final trading session of the week mostly higher after a report showing job growth the strongest since December of 2014- increasing the chances of a December interest rate hike. Non-Farm payrolls were up 271,000 last month. The unemployment rate fell slightly to 5 percent. The lowest since April of 2008. The Conference Board's Gad Levanon: SOUNDBITE: GAD LEVANON, MANAGING DIRECTOR, THE CONFERENCE BOARD IN (ENGLISH) SAYING: "We were concerned after the two months of relatively weak job growth in August and September that we may see a slowdown, but this number completely threw the slowdown out of the window. It's a very strong job report even without any growth in the manufacturing sector which was to be expected." The dollar hit a 6-1/2 month high after the data. All three indexes closed higher for the sixth week in a row. But, financial stocks like JPMorgan and Bank of America rallied on the strong jobs report, with Goldman Sachs the top gainer on the Dow. Energy stocks edged lower. Exxon shares fell after the New York attorney general launched an investigation into whether the company misled the public and shareholders about the risks of climate change. In Europe, stocks were mostly higher after the better-than-expected U.S. jobs report boosted the dollar.

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Stocks rise for 6th week in a row

Saturday, November 07, 2015 - 01:19