Fin24

Jobs figures buoy Wall Street

2012-10-04 07:56

Washington - Stocks rose on Wall Street on Wednesday as a private measure of US private sector job growth rose more than forecast.

Data released by ADP Employer Services showed 162 000 jobs added in September, and also showed the service sector expanding. The figure was better than 140 000 jobs predicted in a Bloomberg news survey of economists.

Investors will look more closely at official unemployment statistics to be released Friday. The government statistics may show an increase in the unemployment rate from the current 8.1% with fewer new jobs than the average over recent months, the economists have told Bloomberg.

The blue-chip Dow Jones Industrial Average rose 12.25 points, to 13,494.61. The broader Standard & Poor's 500 Index gained 5.24 points, to 1,450.99. The technology-heavy Nasdaq Composite Index added 15.19 points, to 3,135.23.

The US currency was trading at 77.44 euro cents up from 77.41 euro cents on Tuesday. The dollar rose to ¥78.5 from ¥78.18.


*Follow Fin24 on TwitterFacebookGoogle+ and Pinterest.