Monday, 4 April 2016

Wall Street off to a solid start in April

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Wall Street extended a seven-week rally on Friday after upbeat US jobs and factory data hinted at stronger corporate earnings without increasing concerns of potential US interest rate hikes. 

 

The Labor Department's report showed solid gains in nonfarm payrolls in March while the unemployment rate rose to 5 percent from an eight-year low of 4.9 percent as more Americans entered the labor force. 

 

 

Along with another report showing the US manufacturing sector resumed growth in March, the employment data suggested the economy is not growing fast enough to increase concerns about inflation.

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