US Stocks Mostly Up As Market Digests Weak Job Growth

(@ChaudhryMAli88)

US stocks mostly up as market digests weak job growth

Wall Street stocks mostly rose early Friday as markets digested data showing disappointing US job growth after Congress approved an agreement to avert a government shutdown

New York, (UrduPoint / Pakistan Point News - 3rd Dec, 2021 ) :Wall Street stocks mostly rose early Friday as markets digested data showing disappointing US job growth after Congress approved an agreement to avert a government shutdown.

The United States added just 210,000 jobs last month, the government reported, less than half the increase analysts were expecting. But the unemployment rate fell more than projected to 4.2 percent.

Analysts described the report as largely disappointing, despite some more positive elements in granular data. It comes as the Federal Reserve has signaled plans to accelerate the timetable for scaling back stimulus.

About 15 minutes into trading, the Dow Jones Industrial Average was up 0.2 percent to 34,717.24.

The broad-based S&P 500 added 0.2 percent at 4,586.71, while the tech-rich Nasdaq Composite Index dropped 0.3 percent to 16,529.38.

Analysts are also watching for developments on the Omicron variant of Covid-19, which looms as a potential headwind, depending on the number of cases and whether vaccines limit the health impacts.

On Thursday night, the Senate approved a stopgap funding bill to keep federal agencies running into 2022 and avert a costly holiday season government shutdown.