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Jobs market optimism buoys trading on Wall Street

Published 01/04/2016

Stocks rose on the back of optimism about employment prospects
Stocks rose on the back of optimism about employment prospects

US stocks closed higher as traders got some encouragement from a solid report on the job market.

Consumer companies gained on Friday after the US government said job growth continued at a strong pace in March.

Energy and mining companies struggled as the prices of oil and precious metals fell.

The price of US benchmark crude slumped 4% to just under 37 US dollars a barrel in New York.

The Dow Jones industrial average shook off an early loss closed up 107 points, or 0.6%, to 17,792.

The Standard & Poor's 500 index rose 13 points, or 0.6%, to 2,072. The Nasdaq composite gained 44 points, or 0.9%, to 4,914.

Bond prices fell. The yield on the 10-year Treasury note rose to 1.78%.

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