Stocks End Higher On Bond Rally After Labor Report
Wall Street closed mixed as bonds staged a strong comeback after the Labor Department shows unemployment dipping to 6.0 percent in May. The Dow slipped early but recovered while 30 year yields eased to 7.28 percent. Nonfarm payrolls rose 191,000, below expectations, offset by upward revisions to April payrolls and a jump in hourly wages to 11.11.
MENTIONED IN THIS ARTICLE
RON Campbell Investment Planning
Robert Thomas Securities, Inc
Nasdsipc
Allegheny Power
ATT Corp
AIL Water Works
Apple Computer
Ashland Coal Inc
Atlantic Richfield
AKER
Hughes Inc
AEL
Serangs Inc
Siar
Sti Selsouth Corp
Ois
Rs ‘Corp
I500
Sime Inc
Domamion Res
CORP
Union Corp
BNC Corp
Goodyear Tire
Hercules
Kgmart Corp
Sire
McDonalds
MCI
MERCK
Monsinto CO
Soars
Orme de Nash Finch
Sistort
Raystar
Stee Valley Ban
Telesis
Saa
TC Penney CO
Pepsico NC
LA Electris
BIP Morris Cos
PRSS
Reebok
Oars Metals
Zoe
Sis
Ockwell
INC
RON Carbide
Corp. Versa
CAAA
Aus
Bason
New York
Dow
Labor Department
Wall Street
Labor Det
General Motors
Robert G. Dederick
Northern Trust Co
Chicago
Lnion
Jobless rate marks best improvement since 1983 May
The Labor Department shows the May unemployment rate at 6 percent, down from 6.4 percent in April, the lowest since November 1990 and the largest one month drop since 1989. Nonfarm payrolls rose by 191,000, below economists’ 280,000 forecast, with most gains in services. White House officials hailed the data as evidence of continued expansion, while private economists noted cooling momentum and a moderation from late year gains.
MENTIONED IN THIS ARTICLE
Labor Department
Sill
White House
Ityeaant Gietens
Italy
Laura Tyson
Clinton
Amer
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