{"id":418698,"date":"2011-05-06T13:48:03","date_gmt":"2011-05-06T13:48:03","guid":{"rendered":"http:\/\/www.ghanamma.net\/2011\/05\/06\/stocks-surge-on-strong-jobs-report\/"},"modified":"2011-05-06T13:48:03","modified_gmt":"2011-05-06T13:48:03","slug":"stocks-surge-on-strong-jobs-report","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2011\/05\/06\/stocks-surge-on-strong-jobs-report\/","title":{"rendered":"Stocks surge on strong jobs report"},"content":{"rendered":"<div readability=\"102.829581994\">\n<p><span id=\"fb-recommend\"\/> <span>By CNNMoney staff<\/span><span>May 6, 2011: 9:46 AM ET<\/span><\/p>\n<p>NEW YORK\u00a0(CNNMoney) &#8212; Stocks rallied at the open Friday as investors cheered the news that the U.S. economy added 244,000 jobs in April, much better than expected.<\/p>\n<p>The unemployment rate ticked higher to 9% from 8.8% but investors were clearly tuned into the top-line number.<\/p>\n<p>In early trading, the Dow Jones industrial average (<a href=\"http:\/\/money.cnn.com\/quote\/quote.html?symb=INDU&#038;source=story_quote_link\">INDU<\/a>) jumped 141 points, or 1.1%; the S&#038;P 500 (<a href=\"http:\/\/money.cnn.com\/quote\/quote.html?symb=SPX&#038;source=story_quote_link\">SPX<\/a>) rose 15 points, or 1.2%; and the Nasdaq Composite (<a href=\"http:\/\/money.cnn.com\/quote\/quote.html?symb=COMP&#038;source=story_quote_link\">COMP<\/a>) gained 32 points, or 1.1%.<\/p>\n<p>Friday&#8217;s early rally was fairly broad, with 29 out of the 30 members of the Dow and 485 of the S&#038;P 500 moving higher.<\/p>\n<p>The Labor Department&#8217;s <a href=\"http:\/\/money.cnn.com\/2011\/05\/06\/news\/economy\/april_jobs_report_unemployment\/index.htm\">jobs report<\/a> blew away most expectations, with economists forecasting employers added 185,000 jobs in the month and the unemployment rate to remain 8.8%, according to a survey compiled by CNNMoney.<\/p>\n<p>Friday also marks the one-year anniversary of Wall Street&#8217;s <a href=\"http:\/\/money.cnn.com\/2011\/05\/06\/markets\/flash_crash\/index.htm\">&#8216;flash crash&#8217;<\/a> that sent the Dow industrials plunging nearly 1,000 points in less than 20 minutes.<\/p>\n<p>On Thursday, a <a href=\"http:\/\/money.cnn.com\/2011\/05\/05\/markets\/markets_newyork\/index.htm\">sell-off on Wall Street<\/a> accelerated late in the day, as oil prices plunged and other commodities sharply declined.<\/p>\n<p>Investors continued to focus on <a href=\"http:\/\/money.cnn.com\/data\/commodities\/index.html\">oil, gold, and silver<\/a> following the big declines commodities posted earlier this week.<\/p>\n<p>Just a week ago, silver prices were within spitting distance of breaching $50 an ounce. On Friday, silver futures for July delivery dropped 60 cents, or 2%, to $35.73 an ounce.<\/p>\n<p>Gold futures for June delivery was up $11.70 to $1,493.20 an ounce.<\/p>\n<p>Oil for June delivery fell 20 cents, or 0.2%, to $99.54 a barrel, after plunging 8.6% Thursday to close <a href=\"http:\/\/money.cnn.com\/2011\/05\/05\/markets\/oil_prices\/index.htm\">below $100 a barrel<\/a>.<\/p>\n<p>After 44 straight increases, the national average price for a gallon of regular unleaded gasoline decreased 0.1 cent Friday, according to AAA. The average price is now $3.984 a gallon.<\/p>\n<p><a href=\"http:\/\/money.cnn.com\/news\/companies\/\"><strong>Companies<\/strong><\/a>:After the closing bell Thursday, insurance giant AIG (<a href=\"http:\/\/money.cnn.com\/quote\/quote.html?symb=AIG&#038;source=story_quote_link\">AIG<\/a>, <a href=\"http:\/\/money.cnn.com\/magazines\/fortune\/fortune500\/2011\/snapshots\/2469.html?source=story_f500_link\">Fortune 500<\/a>) reported a <a href=\"http:\/\/money.cnn.com\/2011\/05\/05\/news\/companies\/aig\/index.htm\">loss from continuing operations of $1.41 per share<\/a> for the first three months of the year, compared to a profit of $2.16 per share over the same period a year ago. Shares of AIG rose 1%.<\/p>\n<p><a href=\"http:\/\/money.cnn.com\/data\/world_markets\/europe\/\"><strong>World markets:<\/strong><\/a> European stocks were mixed in midday trading. Britain&#8217;s FTSE 100 slid 0.4%, while the DAX in Germany added 0.5% and France&#8217;s CAC 40 rose 0.3%.<\/p>\n<p>Asian markets ended lower. The Shanghai Composite shaved 0.3%, the Hang Seng in Hong Kong lost 0.4% and Japan&#8217;s Nikkei tumbled 1.5%.<\/p>\n<p><a href=\"http:\/\/money.cnn.com\/data\/currencies\/index.html\"><strong>Currencies<\/strong><\/a><strong>:<\/strong> The dollar edged up against the euro, slid against the British pound, and was nearly even against the Japanese yen.<\/p>\n<p><a href=\"http:\/\/money.cnn.com\/data\/bonds\/index.html\"><strong>Bonds<\/strong><\/a><strong>:<\/strong> The price on the benchmark 10-year U.S. Treasury was very slightly lower, pushing the yield up to 3.16%. \u00a0<a href=\"http:\/\/money.cnn.com\/2011\/05\/06\/markets\/Markets_newyork\/index.htm?section=money_topstories&#038;utm_source=feedburner&#038;utm_medium=feed&#038;utm_campaign=Feed%3A+rss%2Fmoney_topstories+%28Top+Stories%29#TOP\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/i.cdn.turner.com\/money\/images\/bug.gif\" alt=\"To top of page\" border=\"0\" width=\"7\" height=\"7\" \/><\/a><\/p>\n<\/div>\n<p>Excerpt from:<br \/>\n<a target=\"_blank\" href=\"http:\/\/rss.cnn.com\/~r\/rss\/money_topstories\/~3\/Gsx3hv_B1FA\/index.htm\" title=\"Stocks surge on strong jobs report\" rel=\"noopener noreferrer\">Stocks surge on strong jobs report<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p> By CNNMoney staff May 6, 2011: 9:46 AM ET NEW YORK\u00a0(CNNMoney) &#8212; Stocks rallied at the open Friday as investors cheered the news that the U.S. economy added 244,000 jobs in April, much better than expected. The unemployment rate ticked higher to 9% from 8.8% but investors were clearly tuned into the top-line number. <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-418698","post","type-post","status-publish","format-standard"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Stocks surge on strong jobs report - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2011\/05\/06\/stocks-surge-on-strong-jobs-report\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Stocks surge on strong jobs report - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"By CNNMoney staff May 6, 2011: 9:46 AM ET NEW YORK\u00a0(CNNMoney) -- Stocks rallied at the open Friday as investors cheered the news that the U.S. economy added 244,000 jobs in April, much better than expected. The unemployment rate ticked higher to 9% from 8.8% but investors were clearly tuned into the top-line number.\" \/>\n<meta name=\"twitter:image\" content=\"http:\/\/i.cdn.turner.com\/money\/images\/bug.gif\" \/>\n<meta name=\"twitter:creator\" content=\"@ghanamma\" \/>\n<meta name=\"twitter:site\" content=\"@ghanamma\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.ghanamma.com\/2011\/05\/06\/stocks-surge-on-strong-jobs-report\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/05\/06\/stocks-surge-on-strong-jobs-report\/\"},\"author\":{\"name\":\"\",\"@id\":\"\"},\"headline\":\"Stocks surge on strong jobs report\",\"datePublished\":\"2011-05-06T13:48:03+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/05\/06\/stocks-surge-on-strong-jobs-report\/\"},\"wordCount\":420,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/05\/06\/stocks-surge-on-strong-jobs-report\/#primaryimage\"},\"thumbnailUrl\":\"http:\/\/i.cdn.turner.com\/money\/images\/bug.gif\",\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.ghanamma.com\/2011\/05\/06\/stocks-surge-on-strong-jobs-report\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.ghanamma.com\/2011\/05\/06\/stocks-surge-on-strong-jobs-report\/\",\"url\":\"https:\/\/www.ghanamma.com\/2011\/05\/06\/stocks-surge-on-strong-jobs-report\/\",\"name\":\"Stocks surge on strong jobs report - Ghanamma.com\",\"isPartOf\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/05\/06\/stocks-surge-on-strong-jobs-report\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/05\/06\/stocks-surge-on-strong-jobs-report\/#primaryimage\"},\"thumbnailUrl\":\"http:\/\/i.cdn.turner.com\/money\/images\/bug.gif\",\"datePublished\":\"2011-05-06T13:48:03+00:00\",\"author\":{\"@id\":\"\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.ghanamma.com\/2011\/05\/06\/stocks-surge-on-strong-jobs-report\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.ghanamma.com\/2011\/05\/06\/stocks-surge-on-strong-jobs-report\/#primaryimage\",\"url\":\"http:\/\/i.cdn.turner.com\/money\/images\/bug.gif\",\"contentUrl\":\"http:\/\/i.cdn.turner.com\/money\/images\/bug.gif\"},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.ghanamma.com\/2011\/#website\",\"url\":\"https:\/\/www.ghanamma.com\/2011\/\",\"name\":\"Ghanamma.com\",\"description\":\"News In Ghana - Latest Ghana News Headlines\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.ghanamma.com\/2011\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Stocks surge on strong jobs report - Ghanamma.com","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.ghanamma.com\/2011\/05\/06\/stocks-surge-on-strong-jobs-report\/","twitter_card":"summary_large_image","twitter_title":"Stocks surge on strong jobs report - Ghanamma.com","twitter_description":"By CNNMoney staff May 6, 2011: 9:46 AM ET NEW YORK\u00a0(CNNMoney) -- Stocks rallied at the open Friday as investors cheered the news that the U.S. economy added 244,000 jobs in April, much better than expected. 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