Stocks, Dollar Rally, U.S. Yields Leap On Jobs Data

By IVCPOST Staff Reporter

Jul 06, 2013 04:41 AM EDT

On Friday, US stocks leaped 1% while the dollar rallied and Treasury debt prices decreased. This was after strong job market data showed the world's biggest economy on solid footing.

In June, the US jobs growth was better than expected. The two previous months of gains were revised higher. The US bond yields were up sharply and hit levels not seen from August 2011. The data increased the likelihood that the US Federal Reserve would begin cutting its massive monetary stimulus as early as September.

Non-farm payrolls rose by 195,000 in June. The unemployment rate held steady at 7.6% as more people entered the workforce. Goldman Sachs and JPMorgan economists revised previously hled views on the Fed. The economists said that they now believe bond buying would start to lower down in September.

After the closing bell in New York the Dow Jones industrial average increased by 147.29 points or 0.98%. The Nasdaq Composite added 35.71 points or 1.04% to 3,479.38.

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