US close: Jobs boost pushes NASDAQ to 11-year high
03 Feb 2012
Better than expected US jobless figures ensured that the good start to the New Year by equities continued for another day. The NASDAQ Composite rose to an 11-year high as it racked up its fifth successive week on the rise.
Bank of America led the Dow Jones higher, while other companies whose fortunes are strongly correlated with US economic growth, such as earth moving equipment maker Caterpillar, aluminium producer Alcoa and house builders such as Lennar and Pulte were also wanted.
Mortgage protection firm Genworth Financial was the best performing S&P 500 stock after it swung into the black in the fourth quarter, with earnings of $107m versus a loss of $161m the year before.
Drug manufacturer Gilead Sciences was another stock in demand after it revealed positive test results for a treatment it is developing for hepatitis C.
Tragedy has struck computer memory maker Micron. The company said Steve Appleton, its Chairman and Chief Executive Officer, had died in a plane accident.
MACRO-ECONOMY
Non-farm payrolls rose by 243,000 in December (Consensus: 160,000), with the unemployment rate falling to 8.3%.
OTHER MARKETS
West Texas intermediate crude for March delivery rose by $1.48 to $97.84 a barrel in NYMEX trading.
10-year US Treasuries fell by 29/32 dollars, as equities roared ahead in the wake of the January jobless figures. The yield rose by one-tenth of a percentage point to 1.92%.
S&P 500 - Risers
Genworth Financial Inc. (GNW) $9.17 +14.05%
Gilead Sciences Inc. (GILD) $54.69 +10.92%
Tenet Hlthcre Corp. (THC) $5.97 +9.94%
Lennar Corp. Class A (LEN) $23.34 +7.36%
PulteGroup Inc. (PHM) $8.30 +7.10%
Whirlpool Corp. (WHR) $68.66 +6.68%
National Oilwell Varco Inc. (NOV) $82.14 +6.56%
Ameriprise Financial Inc. (AMP) $53.65 +6.49%
Comerica Inc. (CMA) $30.08 +6.29%
PerkinElmer Inc. (PKI) $26.23 +6.24%
S&P 500 - Fallers
Edwards Lifesciences Corp. (EW) $71.54 -11.32%
Wynn Resorts Ltd. (WYNN) $114.98 -4.80%
International Game Technology (IGT) $15.59 -4.53%
Dow Jones I.A - Risers
Bank of America Corp. (BAC) $7.84 +5.23%
Caterpillar Inc. (CAT) $113.94 +3.27%
Alcoa Inc. (AA) $10.76 +3.26%
Dow Jones I.A - Fallers
Procter & Gamble Co. (PG) $62.81 -0.81%
Merck & Co. Inc. (MRK) $38.37 -0.18%
Nasdaq 100 - Risers
Gilead Sciences Inc. (GILD) $54.69 +10.92%
Sears Holdings Corp. (SHLD) $44.53 +6.11%
Urban Outfitters Inc. (URBN) $27.68 +4.71%
Fiserv Inc. (FISV) $65.88 +4.39%
Foster Wheeler AG (FWLT) $23.97 +4.35%
Nasdaq 100 - Fallers
Wynn Resorts Ltd. (WYNN) $114.98 -4.80%
Vertex Pharmaceuticals Inc. (VRTX) $36.78 -4.17%
Research in Motion Ltd. (RIMM) $16.88 -1.92%
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