Wall Street, taking advantage of job report, ends up

New York – Wall Street finished higher on Friday, satisfied by a monthly report on US employment eclipsing the punitive trade tax announcements between the United States and China.
  

According to final results at closing, its flagship index, the Dow Jones Industrial Average, took 0.41% to 24,456.48 points.

The Nasdaq, with a strong technological component, advanced by 1.34% to 7,688.39 points.

The expanded S & P 500 index rose 0.85% to $ 2,759.82.

Over the week the Dow Jones took 0.76%, the Nasdaq 2.37% and the S & P 500 1.52%.

Even though the unemployment rate rose from 3.8% in May to 4% in June, job creation was stronger than expected at 213,000, while badysts expected 195,000, according to figures released Friday by the Ministry of Labor.

In addition, the average hourly wage, particularly watched as the US central bank (Fed) wants to curb any acceleration of inflation, rose only 0.2% to $ 26.98, bringing the increase over one year to 2.7%. On the month, the rise is lower than the expectations of badysts, who expected 0.3%, as in May.

" This is positive news as there is no acceleration of wages and therefore no pressure on the Fed to adopt a more aggressive stance on key rates " , said Tom Cahill of Ventura Wealth Management.

Rate increases raise borrowing costs for US households and businesses.

On the other hand, " many people are returning to the labor market, which is good news ," said Phil Davis of PSW Investments.

The participation rate in the labor market increased by 0.2 percentage points to 62.9%.

" This will ultimately mean more people employed, rising consumption, and we know how important consumption is to the US economy ," noted Cahill.

On the other hand, the market reacted very little to the long-awaited announcement of increased customs duties on billions of dollars of Chinese imports into the United States, and a similar measure taken immediately by Beijing.

The market had " already integrated (these sanctions) in the courts for several weeks ," said Mr. Cahill.

Chinese companies listed on Wall Street did not suffer, Alibaba taking 2.88% to 192.27 dollars and Baidu 3.15% to 251.77 dollars.

Among other values, pharmaceutical group Biogen jumped (+ 19.63% to 357.48 dollars) after announcing the positive results of a study it conducts with its Japanese partner Eisai on the disease of Alzheimer.

Technology stocks were among the highest increases on Wall Street, Facebook taking 2.41% to 203.23 dollars, Apple 1.39% to 187.97 dollars, Twitter 3.53% to 46.65 dollars and Netflix 2.47% to 408.25 dollars.

The bond market was progressing: the yield on the US 10-year debt fell at 20:45 GMT to 2.819% against 2.829% Thursday night, and the 30-year declined to 2.929% against 2.945% at the previous closing.