Major stock indexes rose on Friday on positive labor market data. As it became known today, employment in the US rose more than expected in July, and wages rose, which should support expectations of faster economic growth and raise the probability of a Federal Reserve interest rates this year. The number of people employed in non-farm payrolls increased by 255,000 jobs last month as hiring increased in general after the upwardly revised 292,000 surge in June. This Department of Labor said on Friday. The unemployment rate remained unchanged at 4.9% as more people entered the labor market. Underlining the strength of the labor market, average hourly wages rose by as much as eight cents. The May employment data have been revised up to 24,000 from the previously reported 11,000.
Oil prices fell moderately, losing previously-earned positions. Pressure on the quotes had a widespread appreciation of the US dollar against the background of positive data on employment.
Almost all the components of DOW index in positive territory (27 of 30). Most remaining shares rose Merck & Co. Inc. (MRK, + 10.38%). Outsider were shares of Verizon Communications Inc. (VZ, -0.55%).
Almost all sectors of the S & P ended the day in positive territory. The leader turned conglomerates sector (+ 3.2%). Most utilities sector fell (-1.1%).